Alphamin reports record quarterly tin production
TSX-V- and AltX-listed Alphamin has produced a record 4 917 t of contained tin in the third quarter, ended September 30, and declared an interim dividend of C$0.06 a share.
Contained tin sold also increased, by 71% quarter-on-quarter, to 5 552 t for the third quarter.
Alphamin, which operates the Mpama North and South mines in the Democratic Republic of Congo, says its tin production expansion is being delivered against a period of weakness in global tin supply, with major producing regions experiencing production challenges and no obvious major investments being made in the industry.
"Demand for tin in solar installations remains robust and semi-conductor sales, a proxy for tin's application in electronics, are reportedly improving.
"Demand in other applications is expected to recover as major economies enter a lower interest rate cycle and the recently introduced economic stimulus in China takes effect. These dynamics bode well for the tin price while exchange traded tin stocks are on the decline," the company points out.
It further notes that its third-quarter earnings before interest, taxes, depreciation and amortisation are expected to be 69% higher quarter-on-quarter at $91.5-million.
Alphamin will publish its financial results for the quarter on or about November 8.
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