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Alphamin Files Q3 2024 Financial Statements and MD&A and Notice of Availability of Interim Financial Statements
Alphamin Resources Corp.
Continued in the Republic of Mauritius
Date of incorporation: 12 August 1981
Corporation number: C125884 C1/GBL
TSX-V share code: AFM
JSE share code: APH
ISIN: MU0456S00006
("Alphamin" or the "Company")
ALPHAMIN FILES Q3 2024 FINANCIAL STATEMENTS AND MD&A AND NOTICE OF
AVAILABILITY OF INTERIM FINANCIAL STATEMENTS
MAURITIUS – November 6, 2024 – Alphamin Resources Corp. (AFM:TSXV, APH:JSE
AltX)( "Alphamin" or the "Company") announced today the filing of its unaudited condensed
consolidated financial statements and accompanying Management's Discussion and Analysis
("MD&A") for the quarter ended 30 September 2024 on SEDAR+ at www.sedarplus.ca.
EBITDA and AISC for the quarter are in line with guidance announced on 3 October 2024.
Highlights:
- Interim FY2024 dividend increased to CAD$0.06 per share (previously CAD$0.03 per
share) and paid on 4 November 2024
- Record quarterly tin production of 4,917 tonnes, up 22% from the prior quarter
- Q3 EBITDA3 of US$91.6m (Guidance: US$91.5m), up 69% from the prior quarter
- AISC per tonne of tin sold of US$15,728 (Guidance US$15,700), in line with the prior
quarter
Operational and Financial Summary for the Quarter ended September 20241
Quarter ended Quarter ended
Description Units September June 2024 Change
2024
Ore Processed Tonnes 229,107 166,676 37%
Tin Grade Processed % Sn 2.9 3.2 -9%
Overall Plant Recovery % 73.5 75.4 -3%
Contained Tin Produced Tonnes 4,917 4,028 22%
Contained Tin Sold Tonnes 5,552 3,245 71%
EBITDA2 US$'000 91,567 54,242 69%
AISC2 US$/t sold 15,728 15,556 1%
Average Tin Price Achieved US$/t 31,757 32,314 -2%
_____________________________________________________________________________________
1
Information is disclosed on a 100% basis. Alphamin indirectly owns 84.14% of its operating subsidiary to which the information
relates. 2This is not a standardized financial measure and may not be comparable to similar financial measures of other
issuers.See "Use of Non-IFRS Financial Measures" below and "Selected Consolidated Financial Information" in Company's Q3
2024 MD&A for the composition and calculation of this financial measure and a reconciliation to its most comparable IFRS
measure.
_________________________________________________________________________________________
Notice of Availability of Interim Financial Statements on SENS
Alphamin shareholders are advised that the Company's unaudited condensed consolidated
interim financial statements (expressed in US dollars) for the three and nine months ended 30
September, 2024 and 2023 ("interim financial statements"), together with management's
discussion and analysis, are available on Alphamin's website (www.alphaminresources.com).
The interim financial statements are also available on the JSE's cloud link at
https://senspdf.jse.co.za/documents/2024/jse/isse/aphe/q32024.pdf
FOR MORE INFORMATION, PLEASE CONTACT:
Maritz Smith
CEO
Alphamin Resources Corp.
Tel: +230 269 4166
E-mail: msmith@alphaminresources.com
6 November 2024
JSE Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news
release.
USE OF NON-IFRS FINANCIAL PERFORMANCE MEASURES
This announcement refers to the following non-IFRS financial performance measures:
EBITDA
EBITDA is profit before net finance expense, income taxes and depreciation, depletion, and
amortization. EBITDA provides insight into our overall business performance (a combination
of cost management and growth) and is the corresponding flow driver towards the objective of
achieving industry-leading returns. This measure assists readers in understanding the ongoing
cash generating potential of the business including liquidity to fund working capital, servicing
debt, and funding capital expenditures and investment opportunities.
This measure is not recognized under IFRS as it does not have any standardized meaning
prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented
by other issuers. EBITDA data is intended to provide additional information and should not be
considered in isolation or as a substitute for measures of performance prepared in accordance
with IFRS.
CASH COSTS
This measures the cash costs to produce and sell a tonne of contained tin. This measure
includes mine operating production expenses such as mining, processing, administration,
indirect charges (including surface maintenance and camp and head office costs), and
smelting, refining and freight, distribution and royalties. Cash Costs do not include
depreciation, depletion, and amortization, reclamation expenses, capital sustaining, borrowing
costs and exploration expenses. On mine costs, exclusive of stock movement, are calculated
on a cost per tonne produced basis, off mine costs are calculated on a cost per tonne sold
basis.
AISC
This measures the cash costs to produce and sell a tonne of contained tin plus the capital
sustaining costs to maintain the mine, processing plant and infrastructure. This measure
includes the Cash Cost per tonne and capital sustaining costs together divided by tonnes of
contained tin produced. All-In Sustaining Cost per tonne does not include depreciation,
depletion, and amortization, reclamation, borrowing costs, foreign exchange gains and losses,
exploration expenses and expansion capital expenditures.
Sustaining capital expenditures are defined as those expenditures which do not increase
payable mineral production at a mine site and excludes all expenditures at the Company's
projects and certain expenditures at the Company's operating sites which are deemed
expansionary in nature.
Date: 06-11-2024 03:30:00
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The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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