Alphamin Resources - Roaring back
Alphamin’s performance in Q321 came roaring back, after a Q2 in which it encountered an area of unexpectedly low grade. Overall, tonnes processed during the quarter were almost exactly in line with our prior expectations. However, the grade mined was 0.2pp better at 3.5% tin, while metallurgical recovery was 3.7pp better than Q2 after the commissioning of the fine tin recovery plant to result in the company’s second best quarter ever, in terms of tin production, after Q420. Coupled with an achieved tin price that was 19.5% better (quarter-on-quarter), this resulted in EBITDA guidance for the quarter of US$53.0m – 55.5% higher than Q221. Note that this report updates our forecasts for both Q321 and Q421. Full financial results are scheduled for 10 November.Alphamin Resources is engaged in the business of locating, acquiring, exploring and, if warranted, developing mineral properties.
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