Business
Alphamin Resources Provides Quarterly Production Update
GRAND BAIE, MAURITIUS, April 03, 2020 (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, April 03, 2020 (GLOBE NEWSWIRE) -- Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX, “Alphamin” or the “Company”) is pleased to provide the following production update for the most recent quarter ended March 2020: Contained tin production of 2,119 tons – at mid point of previous guidance range Processing recoveries of 71% - in line with target Plant throughput up 19% Q2 2020 production guidance of 2,400 - 2,600 tons contained tin Excellent safety performance with zero lost time injuries during the quarter Production Summary for the Quarter ended March 2020 Description Units Actual Quarter endedMarch 2020 Quarter endedDecember 2019 Variance Tons processed Tons 85 060 71 559 19% Tin grade % Sn 3,5 4,9 -29% Overall Plant recovery % 71 64 11% Payable Tin produced Tons 2 119 2 235 -5% Payable Tin sold Tons 3286 1 109 196% The Bisie tin mine has continued with its excellent safety record with zero lost-time injuries recorded during the past quarter. Contained tin production of 2,119 tons was at the mid point of our previous market guidance. The commissioning of two new remote controlled LHDs (load, haul, dump machines) during February 2020 improved underground loading capacity and this together with the impact of the recently announced new mining method resulted in a 19% increase in run-of-mine material processed. Tin grades are variable depending on where mining is taking place and tapered off to 3.5% Sn during Q1 2020, in line with expectations. Underground grades are expected to average 4.0% Sn during the next quarter. The overall plant recovery of 71% was in line with target and 11% above the previous quarter. Payable tin sales exceeded production as we reduced the on-mine concentrate stockpile during the months of February and March 2020 following the repair of the collapsed bridge on the main access highway which was opened to traffic on 25 January 2020.Production Guidance for the next Quarter: We expect contained tin production of between 2,400 and 2,600[1] tons for the quarter ending June 2020 based upon run-of-mine tin grades planned at 4.0% Sn and overall plant recoveries at 72%. Covid-19 Pandemic and Impact on Operations: The health of our employees is of paramount importanc...