Business
Alphamin Resources Files Q2 Financial Statements and MD&A, Provides Exploration Update and Announces Timing of Semi-Annual Dividends
GRAND BAIE, MAURITIUS, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX)( “Alphamin” or the “Company”) announced today the fil
About this update from Alphamin Resources Corp.
[{"type":"text","content":" GRAND BAIE, MAURITIUS, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX)( “Alphamin” or the “Company”) announced today the filing of its unaudited consolidated financial statements and accompanying Management’s Discussion and Analysis for the quarter ended 30 June 2024 on SEDAR+ at www.sedarplus.ca, an exploration update and the timing of dividends. Exploration Update Following completion of the Bisie mine expansion, the Company intends to commence with ongoing exploration drilling from Q4 2024. The exploration objectives are to: Increase the Mpama North and Mpama South resource base and life of mine Discover the next tin deposit in close proximity to the Bisie mine Ongoing grassroots exploration in search of remote tin deposits Initial drilling is planned at Mpama North from an underground exploration drive at level 16 which is 250m below the first mining level and extending 200m beyond the northern extremity of the orebody. Development of this drive is nearing completion with drilling to commence early Q4 2024. Exploration holes are planned in multiple directions on strike and at depth. Additional underground exploration drives are planned from level 20 beyond the southern end of the Mpama North orebody. Surface drilling is planned to commence in Q4 2024 at Mpama South and between Mpama North and Mpama South targeting extensions at depth and on strike further south. These initiatives are not only planned to increase life of mine but also to yield valuable information towards discovering additional tin deposits in close proximity. In addition, an external review of all exploration data to date is expected to guide incremental drilling initiatives from 2025. Timing of semi-annual dividends In line with prior periods, the Board intends to consider the declaration of semi-annual dividends being a final dividend and an interim dividend in April and early October of each year. The dates of these dividend declarations are intended to be aligned with the timing of holding of meetings of Alphamin Bisie Mining SA (ABM), the Company’s 84.14% DRC operating subsidiary, to approve ABM’s annual and interim financial statements and to consider the declaration of a dividend for distribution to shareholders of ABM. Qualified Person Mr. Jeremy Witley, Pr. Sci. Nat., BSc. (Hons) Mining Geology, MSc (...