Business
Correction: Alphamin Resources Announces Record Quarterly Tin Production / Q2 2022 EBITDA of US$67M / Dividend Declared
Grand Baie, MAURITIUS, July 26, 2022 (GLOBE NEWSWIRE) -- In the news release issued earlier today there was an error. In relation to the dividend declared on 5
About this update from Alphamin Resources Corp.
[{"type":"text","content":" Grand Baie, MAURITIUS, July 26, 2022 (GLOBE NEWSWIRE) -- In the news release issued earlier today there was an error. In relation to the dividend declared on 5 July 2022, the dividend record date should have read 22 July 2022, and not 29 July 2022. Please find below the complete and corrected news release. 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 operational update for the quarter ended June 2022: Record quarterly tin production of 3,180 tonnes Q2 EBITDA3 of US$67m Interim dividend for FY2022 of CAD$0.03 per share declared on 5 July 2022 Operational and Financial Summary for the Quarter ended June 20222 Description Units Actual Quarter ended June 2022 Quarter ended March 2022 Change Ore Processed Tonnes 112,569 105,565 7 % Tin Grade Processed % Sn 3.65 3.73 -2 % Overall Plant Recovery % 77.3 77.7 -1 % Contained Tin Produced Tonnes 3,180 3,061 4 % Contained Tin Sold Tonnes 3,229 3,336 -3 % EBITDA3 US$'000 67,004 98,104 -32 % AISC3 US$/t sold 14,677 15,782 -7 % Net Cash3 (Cash less debt) US$'000 138,146 129,775 6 % Tin Price Achieved US$/t 35,345 43,834 -19 % __________________________________________________________________________________________ 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. Totals may not add due to rounding effects. 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 – Q2 2022 Contained tin production of 3,180 tonnes represents a quarterly record, 4% above the previous quarter. Underground mining and processing plant recoveries were in line with expectations. Year-to-date contained tin production of 6,241 tonnes exceeded the run-rate to achieve market guidance of 12,000 tonn...