Alphamin Resources - Underlying results exceed prior forecasts
Alphamin’s Q321 financial results were very close to our prior expectations (see Exhibit 2), with the exception of a warrant charge of US$4.1m and a deferred tax charge of US$5.1m (both of which we habitually decline to forecast on a quarterly basis on account of their inherent unpredictability). Excluding these two factors, earnings attributable to shareholders would otherwise have been 5.3%, or US$1.5m better than our prior forecasts, at US$30.1m, or 2.53 US cents per share.Alphamin Resources is engaged in the business of locating, acquiring, exploring and, if warranted, developing mineral properties.
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