ALPHAMIN ANNOUNCES Q1 2022 EBITDA OF US$98m MAURITIUS, May 13, 2022 (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 operational update for the quarter ended March 2022:
- Q1 EBITDA2 of US$98.1m, up 32% from prior quarter
- Contained tin sold up 9% from the prior quarter to 3,336 tonnes
- Record plant recovery of 78% achieved (previous quarter: 75%)
- Net cash2 position increased 90% to US$129.8m, after a US$30m dividend payment
- Maiden mineral resource declared and subsequently updated at Mpama South
- Decision to commence construction of the Mpama South mine following positive PEA results
- Continued high grade assay results from ongoing drilling campaigns at Mpama North and Mpama South