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Alphamin on track for yearly guidance

14th October 2020

By: Marleny Arnoldi

Deputy Editor Online

     

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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 Senior Deputy Editor Online

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