Alphamin Resources Corp V.AFM

ALPHAMIN ANNOUNCES RECORD ANNUAL TIN PRODUCTION

[Betteryear2]

Grand Baie, MAURITIUS, Jan. 26, 2024 (GLOBE NEWSWIRE) -- Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX)( “Alphamin” or the “Company”), a producer of 4% of the world’s mined tin1 from its high grade operation in the Democratic Republic of Congo, is pleased to provide the following update for the year and quarter ended December 2023:

• FY2023 tin production of 12,568 tonnes, up 1% from the prior year
• Q4 tin production of 3,126 tonnes
• Q4 tin sales of 2,046 tonnes impacted by poor road conditions, which have subsequently improved
• FY2023 EBITDA3,4 guidance of US$136m at an average tin price of US$26,009/t, with EBITDA negatively affected by a temporary delay in Q4 tin sales volumes
• US$50 million tin prepayment arrangement and lower marketing commission secured

ALPHAMIN ANNOUNCES RECORD ANNUAL TIN PRODUCTION / EBITDA (globenewswire.com)

[geezer21]

Production was up an insignificant amount.  Price achieved was down a significant 15%.  EBITDA was down a significant 39%.