Maritz Smith of Alphamin Resources talks about its updated tin resource at its Mpama North Mine
In this InvestorIntel interview, host Tracy Weslosky talks to Alphamin Resources Corp.‘s (TSXV: AFM) CEO Maritz Smith about their recent news, including an updated Mineral Resource Estimate (MRE) and Mineral Reserve estimation for their Mpama North Mine and a declared dividend for shareholders. Alpahmin produces about 4% of the world’s mined tin from its high-grade operation in the Democratic Republic of Congo.
In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here to access InvestorChannel.com), Maritz tells InvestorIntel that the result of Alphamin’s updated Mineral Resource and Mineral Reserve estimates and updated life of mine schedule is that all contained tin depleted by mining since 31 December 2019 has been replaced in the new LoM schedule for the Mpama North Mine. “The Mpama North mine is really the backbone for where we want to go,” Maritz says. “This mine was commissioned in 2019 we increased its production from around 10,000 tonnes of tin a year to 12,000 tonnes of tin a year, and it’s important that this mine continues to deliver consistently for us in terms of production and sales.”
In a market that having trouble keeping up with tin demand, Maritz says that “we are on a growth path of unlocking additional tin resources which will lead to additional tin production… because we believe the tin market has a significant supply issue.”
Talking about the recent dividends paid by Alphamin, Maritz tells Tracy that “in addition to our various growth initiatives which we’re funding organically from our balance sheet, we have commenced declaring dividends to our shareholders” with the first dividend declared in February 2022 and a second “At the moment we’re running at about an eight percent dividend yield.”
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About Alphamin Resources Corp.
Alphamin Resources is a low-cost tin concentrate producer from its high-grade deposit at Mpama North. This is on its mining license, and it has an additional five exploration licenses covering a total of 1,270km2 in the North Kivu Province of the Democratic Republic of Congo (DRC). Alphamin is headquartered in Mauritius and listed both on the Toronto Stock Exchange (TSXV: AFM) and on the Johannesburg Stock Exchange AltX (JSE AltX: APH). At a tin grade of roughly 4.5%, Mpama North is the world’s highest-grade producing tin resource – about four times higher than most other operating tin mines in the world. The Mpama North mine is in production. It has an output of ~10 000 tonnes of contained tin per annum, amounting to ~3% of the world’s mined tin supply. Alphamin is aiming to increase annual tin output and life of mine through incremental production from Mpama South and by adding more mines in close proximity to the current producer from within its licensed footprint. The management team has successfully developed and brought the Bisie tin mine into production and is focused on taking the business to the next level as they pursue their objective of realizing the full value potential of this extraordinary tin complex.
To learn more about Alphamin Resources Corp., click here
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