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Alphamin hits record EBITDA in first quarter

DRC tin producer helped by high prices

Nathan Richardson
Alphamin hits record EBITDA in first quarter

The miner, who operates the Mpama North tine mine in the Democratic Republic of Congo, said its net cash for the quarter hit $129.51 million, having risen 90% year-on-year. 

Alphamin produced 3,061 tonnes of tin and sold 3,336 tonnes. Production was down 2% year-on-year, but sales rose 9%. 

The company achieved an average tin price during the three months of $43,813/t, which is up 14% year-on-year. 

"The AISC per tonne of contained tin sold during Q1 2022 is expected to be in line with the prior quarter," Alphamin said. 

Alphamin's share price has been on a steady upward trajectory since mid-to-late 2020. It climbed from around C$0.20-C$0.25 early in the fourth quarter of 2020 to reach C$1.14 (US$0.91) as of April 6 this year. 

The company had a market capitalisation of C$1.45 billion. 

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