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Alphamin Resources Announces Record FY2024 and Q4 2024 Tin Production FY2025 Production Guidance Exploration Success
GRAND BAIE, MAURITIUS, Jan. 17, 2025 (GLOBE NEWSWIRE) -- Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX)( “Alphamin” or the “Company”) is pleased to provide t
About this update from Alphamin Resources Corp.
[{"type":"text","content":" GRAND BAIE, MAURITIUS, Jan. 17, 2025 (GLOBE NEWSWIRE) -- Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX)( “Alphamin” or the “Company”) is pleased to provide the following update for the year and quarter ended 31 December 2024: FY2024 tin production of 17,324 tonnes, up 38% from the prior year Q4 tin production of 5,237 tonnes (Q3: 4,917 tonnes) FY2024 EBITDA2,3 guidance of US$274m, an estimated increase of 102% from actual FY2023 Positive exploration results at Mpama North and South FY2025 contained tin production guidance of approximately 20,000 tonnes Operational and Financial Summary for the Year and Quarter ended December 20241 Description Units Year ended December 2024 Year ended December 2023 Change Quarter ended December 2024 Quarter ended September 2024 Change Ore Processed Tonnes 738 067 400 691 84% 232 860 229 107 2% Tin Grade Processed % Sn 3,1 4,2 -25% 3,0 2,9 3% Overall Plant Recovery % 74,7 75,5 -1% 75,1 73,5 2% Contained Tin Produced Tonnes 17 324 12 568 38% 5 237 4 917 7% Contained Tin Sold Tonnes 17 865 11 385 57% 4 942 5 552 -11% EBITDA2,3 (FY2024 and Q4 2024 guidance) US$'000 274 100 135 537 102% 76 200 91 567 -17% AISC2, 3 (FY2024 and Q4 2024 guidance) US$/t sold 15 323 14 205 8% 15 106 15 728 -4% Dividends paid (cents per share) C$ cps 9 6 50% 6 0 n/a Average Tin Price Achieved US$/t 30 345 26 009 17% 30 371 31 757 -4% 1Information is disclosed on a 100% basis. Alphamin indirectly owns 84.14% of its operating subsidiary to which the information relates. 2FY2024 and Q4 2024 EBITDA and AISC represent management’s guidance.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 Contained tin production of 5,237 tonnes for the quarter ended December 2024 was 7% above the prior period. The volumes and tin grade of ore processed were slightly above that of the previous quarter and in line with the annualised target of 900,000 tonnes at a grade of 3%. The processing facilities performed exceptionally well – overall plant recoveries averaged 75% during the quarter, above the target of 73%. For the year ended 31 December 2024, the Company produced 17,324 tonnes of contained tin, 38% above that of the previo...