S&P/ASX 300 Index (ASX: XKO) gold stock Alkane Resources Ltd (ASX: ALK) is at it again today.
And by 'it' I mean charging ahead of the benchmark.
Alkane Resources shares closed yesterday trading for $1.37. In morning trade on Friday, shares are changing hands for $1.47 apiece, up 7.3%.
For some context, the ASX 300 is up 0.2% at this same time.
Today's outperformance is par for the course for this high-flying ASX 300 gold stock.
One year ago, you could have bought Alkane Resources shares for 53 cents each. If you were to sell those shares at current levels, that would see you sitting on a gain of 177.4%. Or enough to turn a $10,000 investment into $27,736.
In 12 months.
Part of those impressive gains has been driven by the surging gold price. Gold is currently trading for US$4,476.55 per ounce, up 66.4% since this time last year.
And Alkane Resources certainly hasn't been sitting idle.
Here's what is stoking renewed investor interest today.
ASX 300 gold stock jumps on production update
The Alkane Resources share price is leaping higher once more today following the release of the gold miner's December quarterly production update (Q2 FY 2026).
The ASX 300 gold stock reported that it had produced 43,663 ounces of gold equivalent over the three months to 31 December. That brings its first half (H1 FY 2026) production to 80,070 ounces of gold equivalent.
Turning to the balance sheet, as at 31 December, Alkane held $218 million in cash, $14 million in listed investments and another $14 million in bullion, for a total of $246 million. That's up $15 million from the prior quarter's end, after the ASX 300 gold stock paid $11 million of FY 2025 income tax.
The company noted that it is debt free except for equipment finance of A$22 million.
Over the quarter, Alkane Resources sold 42,709 ounces of gold and 409 tonnes of antimony.
Management reaffirmed full-year FY 2026 guidance of 160,000 to 175,000 ounces of gold equivalent at an all-in sustaining cost (AISC) of A$2,600 – A$2,900 per gold equivalent ounce.
What did management say?
Commenting on the results helping lift the ASX 300 gold stock today, Alkane Resources managing director Nic Earner, said:
Alkane has had a solid quarter's production from our three operating mines which together produced 42,767 ounces of gold and 267 tonnes of antimony (43,663 ounces of gold equivalent) over the quarter.
Tomingley will pour its 750,000th ounce of gold during January 2026, a great testament to the team there. We have further strengthened our balance sheet over the quarter with A$246 million in cash, bullion and listed investments at quarter end.
