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Alphamin Resources Announces Q4 and FY2021 Results/ Achieves Record Fourth Quarter EBITDA and Production
GRAND BAIE, Mauritius, March 07, 2022 (GLOBE NEWSWIRE) -- Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX)( “Alphamin” or the “Company”), a producer of 4% of t
About this update from Alphamin Resources Corp.
[{"type":"text","content":" GRAND BAIE, Mauritius, March 07, 2022 (GLOBE NEWSWIRE) -- Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX)( “Alphamin” or the “Company”), a producer of 4% of the world’s mined tin1 from its high grade operation in the Democratic Republic of Congo, is pleased to provide the following update for the quarter ended December 2021: Contained tin production up 10% from the prior quarter to 3,114 tons Contained tin sales up 13% from the prior quarter to 3,056 tons Record Q4 EBITDA3 of US$74m, up 38% from prior quarter actual Net cash3 position increases to US$68m FY2021 dividend of CAD$0.03 per share declared and paid Announcement of Mpama South maiden Resource and positive Preliminary Economic Assessment Operational and Financial Summary for the Quarter and year ended December 20212 Description Units Actual Actual Quarter ended December 2021 Quarter ended September 2021 Change Year ended December 2021 Year ended December 2020 Change Tons Processed Tonnes 107,981 108,901 -1 % 416,173 366,634 14 % Tin Grade Processed % Sn 3.9 3.5 12 % 3.6 3.9 -10 % Overall Plant Recovery % 75 75 -1 % 74 71 4 % Contained Tin Produced Tonnes 3,114 2,832 10 % 10,969 10,319 6 % Contained Tin Sold Tonnes 3,056 2,710 13 % 11,521 11,474 0 % AISC3 per tonne tin sold US$/t 15,117 14,765 2 % 14,173 11,469 24 % EBITDA3 US$'000 74,347 53,715 38 % 198,592 58,302 241 % Net Cash/ (Net Debt)3 US$'000 68,233 1,036 6486 % 68,233 (59,909 ) -214 % Tin Price Achieved US$/t 38,432 33,704 14 % 30,629 16,336 87 % ________________________ 1Data obtained from International Tin Association Tin Industry Review Update 2021 2Production information is disclosed on a 100% basis. Alphamin indirectly owns 84.14% of its operating subsidiary to which the information relates. 3This is not a standardized financial measure and may not be comparable to similar financial measures of other issuers. See “Use of Non-IFRS Financial Measures” below for the composition and calculation of this financial measure. Operational and Financial Performance Q4 2021 contained tin production of 3,114 tons is 10% above the previous quarter and contained tin sales of 3,056 tons increased 13% from the prior quarter. Improved underground mining practices relating to st...