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Environment|Financial|Mining|Resources|Underground
environment|financial|mining|resources|underground

Alphamin exceeds second-quarter production guidance

8th July 2020

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

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JSE-listed tin concentrate producer Alphamin Resources’ tin production for the second quarter, ended June 30, increased by 29% quarter-on-quarter to 2 739 t.

This exceeded the production guidance for the period.

As a result, production guidance for the third quarter is now estimated at between 2 600 t and 2 800 t of contained tin.

Meanwhile, plant throughput during the quarter ended June 30 increased by 8% to 91 928 t from higher underground volumes derived from the new mining method, the company said on July 8.

Mined volumes had exceeded plant throughput by about 4 000 t, thereby increasing the run-of-mine stockpiles.

The processing plant is also performing well, Alphamin noted, adding that various initiatives aimed at achieving consistently higher throughput were under way.

The all-in sustaining cost per ton of payable tin sold reduced by 13% to $10 849, which the producer said was mainly attributable to increased tin production.

Earnings before interest, taxes, depreciation and amortisation (Ebitda) of $12.9-million were recorded at an average tin price of $15 359/t, which Alphamin said represents an Ebitda margin of 32% in a relatively low tin price environment.

The producer has been able to continue with normal production and concentrate sales activities during the prevailing Covid-19-impacted period.

Alphamin’s unaudited consolidated financial statements for the second quarter are expected to be released on or about August 7.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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