TSX-V- and JSE-listed tin miner Alphamin Resources Corporation, which has declared a cash dividend of C$0.03, or 40c a share, for the six months ended June 30, has produced 3 151 t of contained tin from the Bisie tin project’s Mpama North mine in Congo-Brazzaville, in the quarter ended June 30.
Production was in line with that of the prior quarter.
The company expects to have generated about $35-million of earnings before interest, taxes, depreciation and amortisation (Ebitda) for the quarter under review, compared with about $41-million of Ebitda generated in the quarter ended March 31.
The year-to-date tin production of 6 338 t exceeds the run-rate to achieve market guidance of 12 000 t for the year ending December 31.
Alphamin says its run-of-mine and crushed ore stockpiles ahead of the processing plant were at record levels at quarter-end, totalling 27 439 t at an average tin grade of 6.74%.
It continues to progress the Mpama South project, which is the other deposit that the Bisie project consists of. The Mpama South project is expected to increase yearly tin production from 12 000 t/y to 20 000 t/y. The commissioning of a new processing plant as part of the project is targeted for completion in December.
The company will release its financial results for the quarter ended June 30 on or about August 17.