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Alphamin on track for yearly guidance

14th October 2020

By: Marleny Arnoldi

Online News Editor

     

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TSX-V- and AltX-listed Alphamin Resources Corporation says its tin sales for the quarter ended September 30 were up 3% quarter-on-quarter to almost 2 700 t.

The company expects to reported earnings before interest, taxes, depreciation and amortisation of $16-million for the quarter.

Despite producing 6% less contained tin in the September quarter, at 2 563 t, compared with 2 739 t produced in the June quarter, Alphamin remains on track to meet its production guidance for the last quarter of the year, which is set at between 2 600 t and 2 800 t of contained tin.

Alphamin advises that its run-of-mine volumes processed increased by 5% quarter-on-quarter to 96 086 t, while underground mining performed well in delivering increased material for processing.

On average, the tin grade achieved in the quarter under review was 12% lower, compared with the prior quarter.

The company indirectly owns 84% of the Namibia-based Bisie tin mine’s operating subsidiary.

Alphamin will release financial statements for the September quarter on or about November 2.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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