Grand Baie, MAURITIUS, July 13, 2026 (GLOBE NEWSWIRE) -- Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX)( "Alphamin" or the "Company"), is pleased to provide the following update for the quarter ended June 30, 2026:
Record EBITDA2, 3 guidance of US$167m, up 6% from the prior quarter
Tin production of 5,013 tonnes and 5,014 tonnes of Tin sold
Exploration update
Operational and Financial Summary for the Quarter ended June 20261
Description | Units | Quarter ended June 2026 | Quarter ended March 2026 | Change |
Ore Processed | Tonnes | 211,034 | 201,519 | 5% |
Tin Grade Processed | % Sn | 3.3 | 3.4 | -3% |
Overall Plant Recovery | % | 72.8 | 74.2 | -2% |
Contained Tin Produced | Tonnes | 5,013 | 5,026 | 0% |
Contained Tin Sold | Tonnes | 5,014 | 5,016 | 0% |
EBITDA2,3 (Q2 2026 guidance) | US$'000 | 167,279 | 157,761 | 6% |
AISC2, 3 (Q2 2026 guidance) | US$/t sold | 19,043 | 17,968 | 6% |
Net Cash/Debt3 | US$'000 | 90,671 | 140,000 | -35% |
Average Tin Price Achieved | US$/t | 51,957 | 49,278 | 5% |
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1Information is disclosed on a 100% basis. Alphamin indirectly owns 84.14% of its operating subsidiary to which the information relates.2Q2 2026 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. Apparent computational errors due to rounding are not considered significant.
Operational and Financial Performance
Contained tin production of 5,013 tonnes for the quarter ended June 2026 was in line with the target guidance of 20,000 tonnes per annum and that of the previous period. Tin sales of 5,014 tonnes were achieved compared to 5,016 in Q1 2026, resulting in the first four-quarter rolling period of 20,000 tonnes achieved. Processing recoveries dipped 2% from 74.2% in Q1 2026, to 72.8% in Q2 2026. The metal sulphides in the current mining area are above average levels, and this resulted in excessive near gravity material interfering with the efficiency of the gravity circuit.
EBITDA for Q2 2026 is estimated at a record US$167m (Q1 2026: US$158m). The EBITDA variance compared to the prior quarter is attributable to a 5% increase in the tin price, from a US$49,278 average in Q1 2026, to US$51,957 average in Q2 2026 (current price circa US$53,000). Guidance for AISC per tonne of tin sold in Q2 2026 is estimated at US$19,043, up 6% from the previous quarter of US$17,968 due to a combination of off-mine costs in the form of increased royalties, export duties, marketing commissions and net smelter returns, which increase as tin price increases, and timing on capital expenditure. On-mine operating costs increased largely as a result of higher fuel prices impacting diesel and transport costs. Fuel stocks have been and remain at full capacity with higher prices expected to continue into Q3 due to ongoing orders at elevated prices.