Alphamin’s shares rise on expected increase in first-quarter Ebitda
Tin miner Alphamin Resources’ share price on the JSE rose by more than 9% on April 5 after the company announced that it expected to report record earnings before interest, taxes, depreciation and amortisation (Ebitda) of $98-million for the quarter ended March 31 – a 32% quarter-on-quarter improvement.
Contained tin production of 3 061 t was in line with the previous quarter.
Underground mining continued to deliver steady results and processing plant recoveries increased to 78% from 75% in the prior quarter.
Contained tin sales increased by 9% quarter-on-quarter to 3 336 t at an average tin price of $43 813/t.
Alphamin, which owns tin mining operations in the Democratic Republic of Congo, will publish its first-quarter results on May 11.
