Eloro Resources Ltd ELRRF

tin man

[likeike]

Tin may not possess the lustre of its precious metals’ cousins, but it does have versatility and a market squeeze that currently catapulted it into one of the highest in-demand metals market categories.

Today, the base metal’s three-month price is currently trading around USD$25,500 per tonne. Tin remains the outperformer of the London Metal Exchange (LME) base metals pack – up about 25% on the start of the year. Alphamin’s contained tin sales came in at 3,351 tonnes for Q1 2021, or 45% higher than the previous quarter. For metals & mining investors, tin looks like a win moving forward into 2021.

And this is the domain of industrial need that Mauritius-based Alphamin Resources Corp. (AFM) (TSX-V.AFM, OTCMKTS: AFMJF, Forum) is meeting…and exceeding.

The greatest drivers for tin demand will be the ‘Internet of Things’ and climate change.
A rising global industry leader – Alphamin is the second largest tin producer outside of China – a low-cost, high-grade tin concentrate producer from its deposit at Mpama North in the North Kivu Province of the Democratic Republic of Congo (DRC). At a tin grade of approximately 4.5%, Mpama North is the world’s highest-grade tin resource – about four times higher than most other operating tin mines in the world.

Currently, tin is primarily used for soldering circuit boards, but researchers and scientists predict that tin will be the material of choice for the next generation of energy-generating and storage devices while being the “glue” that holds all of these components together. This will continue to make tin a vital and strategic component in the manufacturing of electric vehicles, advanced robotics, renewable energies, and advanced computing.


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In the News

It is the Company’s latest round of financial performance and importantly exciting progress in its exploration initiatives that investors should be keenly aware of. On April 9th, the Company released its operational and growth update for the quarter ending March 2021. And the results are head-turning.


Highlights:

• Q1 EBITDA guidance of $36.5 million, which would be a new quarterly record, at a tin price of $23,083/t (Current: approximately $25,000/t).
• Tin sales of 3,351 tons, up 45% from the previous quarter.
• Main Zone mineralisation intercepted at the adjacent Mpama South deposit, based on visual inspection and interpretation, is comparable to the Resource mined at the high grade Mpama North Mine.
• New parallel mineralisation zone discovered in the footwall of the Main Zone at Mpama South.
• Fine tin recovery plant on schedule for commissioning during June 2021.
• Operational and Financial Summary for the Quarter ended March 2021 2

Description	Units	Actual
		Quarter ended March 2021	Quarter ended December 2020	Variance
Tons Processed	Tons	93,997	93,560	0	%
Tin Grade Processed	% Sn	3.8	4.2	-9	%
Overall Plant Recovery	%	74	74	-0	%
Contained Tin Produced	Tons	2,611	2,898	-10	%
Contained Tin Sold	Tons	3,351	2,306	45	%
EBITDA (Q1 2021 guidance)	US$'000	36,500 3	16,748	118	%
Tin Price Achieved	US$/t	23,083	18,497	25	%

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1 Data obtained from International Tin Association Tin Industry Review 2020.
2 Production information is disclosed on a 100% basis. Alphamin indirectly owns 84.14% of its operating subsidiary to which the information relates.
3 Q1 2021 EBITDA represents management’s guidance


INVESTOR NOTE: Management’s interpretation of recently drilled core at the adjacent Mpama South deposit is rising the prospects of a look-alike to the current high grade mine. All completed holes have shown visual mineralization supporting continuity of the Main Zone system.

Assay results from export samples related to 21 of the 25 holes in Phase 1 drilling are expected by June 2021. And there is more – a couple of highly prospective targets on the 13km Alphamin ridge have been identified for drilling later this year. Could there be a second, third and fourth orebody? Certainly, this could make Alphamin the most relevant tin producer in the world.


About the Company

Alphamin Resources Corp is a Mauritius-based company. It is engaged in the business of producing tin from its Bisie mine in the North Kivu province of the Democratic Republic of Congo.

The Company’s management team has successfully developed and brought the Bisie tin mine to targeted production levels, ahead of its technical report released early 2020 and is focused on taking the business to the next level. The team say they are never satisfied with the status quo and continues to grow production while, importantly, initiating drilling activities to prove that its license area represents one of the world’s most significant tin complexes. And that together with tin being pro-technology, this makes for a great business proposition.


Alphamin - Bisie Tin Mine (DRC) Development Timeline

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