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FINWIRES

Alkane Hits Record Net Profit in Fiscal Q3

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Alkane Resources (ALK.TO) hit a record net profit in the fiscal third quarter, with production also hitting a new record, the company reported late on Thursday.

Net profit was A$93.0 million, or $6.81 per share, surging from $8.1 million, or $1.34 per share.

Revenue was $274.4 million, up from $63.2 million. EBITDA was $161.2 million, up from $28.1 million.

The company attributed the increase in revenue to higher production and gold sales following the addition of Costerfield and Bjorkdal to the portfolio, combined with higher realized gold prices.

The company produced 45,776 ounces of gold equivalent, up from 17,657 ounces. Alkane said it is on track to meet 2026 guidance.

Alkane expects to produce 155,000 - 168,000 ounces of gold equivalent for the full fiscal year 2026.

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Update: Silvercorp Metals Declares Receipt of Common Shares Related to Santa Barbara Acquisition

(Adds ticker for Tincorp Metals in first paragraph)Silvercorp Metals (SVM.TO) has acquired beneficial ownership of 15 million common shares under a share purchase agreement with Tincorp Metals (TIN.V) and Silvercorp subsidiary Adventus Mining, the company said late on Thursday.The common share issuance was made in connection with Tincorp's acquisition of the Santa Barbara gold-copper project in Ecuador.The shares were acquired as partial consideration for the Santa Barbara acquisition and for investment purposes.On May 13, Tincorp issued 43.8 million common shares and 21.9 million common share purchase warrants upon conversion of the 43.8 million subscription receipts issued by Tincorp on March 24.Prior to the conversion and the acquisition, Silvercorp owned 20.7 million common shares, representing about 28.9% of the issued and outstanding common shares.Following the conversion, Silvercorp owned about 17.9% of the issued and outstanding common shares.In connection with the closing of the Santa Barbara acquisition, Tincorp issued the consideration shares to Adventus, resulting in Silvercorp owning 35.7 million common shares, representing about 27.4% of the issued and outstanding common shares.

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