RE:A Once Cent Dividend
"I would rather they allocate money towards exploration and further development of new projects, but that could prove to be costly."
Alphamin has the money to do both, to give out its first dividend and also has money for exploration and development. They have budgeted exporation funds and capex already sunk into Mpama North will support expansion into Mpama South. They have been drilling Mpama South and a maiden resource is expected to be released in January.
From the September Presentation:
Exploration – Mpama South continues to exceed expectations...
Successive phases of drilling have brought the mineralised zone of Mpama South to within 200 metres of the Mpama North mine
New interpretation is that the two were a single, high-
grade zone of cassiterite mineralisation which was slightly offset by faulting
Gap expected to reduce with on-going drilling
Access from Mpama North – low cost fast-track
development potential
Mpama South proximity to Mpama North
Drilling commenced December 2020: 69 drillholes and 18,000m completed by end October 2021
Assay results received and announced for the first 57
drillholes
Maiden Mineral Resource estimation expected to be
announced in January 2022
Drilling continues as high-grade zone still remains open in several directions