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Alkane Resources To Carry Out Bookbuild

Alkane Resources (ASX:ALK) has been granted an ASX trading halt to allow a bookbuild for a placement to institutional, sophisticated and professional investors to take place.

The halt will remain in place until the earlier of the announcement being made or the commencement of normal trading on Monday, 16 June 2014.

It had earlier this month noted that its Tomingley Gold Operation in New South Wales' Central West region is operating at design capacity of 1 million tonnes per annum of ore throughput.

Alkane is now focused on site safety and environmental performance, mining productivity, a further improvement in processing recovery and improving the cash costs of the site.

Cash flow from Tomingley will provide funding to maintain the project development pipeline and will assist with the development of the Dubbo Zirconia Project.

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