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Alphamin Announces Financial Results for the Quarter Ended June 2020/ Updates Corporate Matters

Written by Customer Service on . Posted in Public Companies.

GRAND BAIE, Mauritius, Aug. 07, 2020 (GLOBE NEWSWIRE) — Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX, “Alphamin” or the “Company”) is pleased to report its financial results for the quarter ended June 2020. The Company has filed on SEDAR at www.sedar.com today its interim financial statements and related management’s discussion and analysis for the quarter.
FINANCIAL AND OPERATIONAL HIGHLIGHTSTin production up 29% to 2,739 tons versus previous quarterAISC per ton of tin sold down 13% to US$10,849 versus previous quarterEBITDA of US$12,9 millionQ3 2020 production guidance of 2,600 – 2,800 tons contained tinIncrease in ownership of the Bisie tin mine from 80.75% to 84.14%$31.2m debt reduction concluded concurrently with $31m offering of sharesSignificant improvement in debt terms following the restructure including an interest rate reduction and partial debt holiday in 2020Initiation of significant growth initiatives post quarter-endProduction and Financial Summary for the Quarter ended June 20201A Media Snippet accompanying this announcement is available by clicking on the image or link below:

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