ALPHAMIN PROVIDES Q3 2025 OPERATIONAL UPDATE
Executive Summary
- Q3 2025 tin production rose 26% to 5,190 t, meeting the quarterly target of 5,000 t and driving FY‑2025 production guidance up to 18,000‑18,500 t (previously 17,500 t).
- EBITDA guidance for Q3 2025 increased 28% to US$96 m versus actual US$75 m in Q2 2025, supported by higher tonnage and a modest price uplift.
- Significant drill intercepts were returned from Mpama North (up to 41.47 % Sn over 10.1 m) and Mpama South (up to 4.67 % Sn over 1.81 m), expanding the resource potential near existing deposits.
Key Details
- Production & Sales
- Contained tin produced Q3 2025: 5,190 t (↑26% QoQ).
- Tin sold Q3 2025: 5,143 t (↑12% QoQ).
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Average realized tin price: US$33,877/t, ~4% above prior quarter; market price ≈ US$37,000/t.
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Financial Metrics
- Q3 2025 EBITDA guidance: US$96 m (↑28% QoQ).
- All‑in sustaining cost (AISC) per tonne sold: US$15,900 (↓3% vs Q2).
- Plant recoveries averaged 76 % in Q3 (vs 77 % in Q2).
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Cash balance 30 Sep 2025: US$57 m (down from US$110 m on 30 Jun 2025) after tax payments, overdraft reduction, dividend and withholding tax outflows.
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Guidance Updates
- FY‑2025 tin production guidance revised to 18,000‑18,500 t (previously 17,500 t).
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Expected Q4 2025 production: ≈5,000 t, bringing year‑to‑date total to 13,566 t.
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Dividend
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Interim FY 2025 dividend paid CAD 0.07 per share on 15 Sep 2025.
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Exploration – Mpama South
- Hole BGH192: 24.13 m @ 2.43 % Sn (incl. 5.08 m @ 4.31 % Sn).
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Hole BGH194: 13.98 m @ 1.62 % Sn (incl. 3.04 m @ 4.26 % Sn).
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Exploration – Mpama North
- Hole MNUD008A: 29.34 m @ 6.21 % Sn (incl. 9.30 m @ 13.63 % Sn).
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Hole MNUD009: 33.28 m @ 16.83 % Sn (incl. 10.10 m @ 41.47 % Sn).
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Drilling Operations
- Two Mpama South surface holes abandoned due to deviation; two additional holes ~1‑2 weeks from target depth.
- One Mpama North surface hole abandoned; second completed without visual tin mineralisation; next hole in progress.
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Planning to introduce directional core drilling to improve down‑dip fan drilling efficiency.
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Security Update
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Increased security events near Massisi/Walikale border; mine remains ~200 km away and continues operating within guidance parameters. Risk profile remains elevated.
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Qualified Persons
- Mr. Clive Brown, P.Eng., QP – reviewed all sections except exploration appendices.
- Mr. Jeremy Witley, P.Sci.Nat., QP – reviewed exploration section and appendices.
Notable Quotes
- “Our Q3 performance demonstrates the resilience of our operation despite security challenges, and the strong drill results underscore the upside potential of the Mpama projects.” – Maritz Smith, CEO, Alphamin Resources Corp.