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Exploration|Drilling
Exploration|Drilling
exploration|drilling

Alphamin achieves record $36m quarterly earnings

9th April 2021

By: Marleny Arnoldi

Deputy Editor Online

     

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JSE- and TSX-V-listed Alphamin has generated a new quarterly record earnings before taxes, interest, depreciation and amortisation (Ebitda) of $36.5-million for the first quarter of the year.

The higher Ebitda is on the back of 3 351 t of tin sales, which is a 45% improvement on the prior quarter, while the tin price is averaging $25 000/t.

The company generated $16-million of Ebitda in the quarter ended December 31, 2020.

Alphamin did advise, however, that its contained tin production of 2 611 t in the quarter ended March 31 was impacted by a lower feed grade of 3.8% tin, compared with a grade of 4.2% in the prior quarter.

The processing plant performed well during the quarter under review, averaging a recovery rate of 74% and treating more material than in the prior quarter.

The company continues undertaking exploration activity to extend the life of mine at its Mpama North operation and to declare a maiden mineral resource estimate for the Mpama South deposit.

Alphamin plans to conduct between 8 000 m and 14 000 m of drilling at Mpama South to declare a mineral resource estimate by the end of the year, while an initial 7 500 m drilling campaign is planned for Mpama North starting in May to test the strike and dip extension of the current producing orebody.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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