Northwire Canada EditionThursday, October 15, 2026
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GOLD 4175.30 +1.6% SILVER 57.30 +2.5% COPPER 6.57 −1.3% OIL 97.57 +2.6% PALLADIUM 1133.75 +3.4% SGZ 0.035 +0.0% MKA 0.670 +0.0% LXM 0.175 −18.6% CLCH 1.09 −0.9% NSU 0.170 +9.7% WM 0.085 +0.0% YGT 0.180 +5.9% EVI 0.520 +4.0% ADZ 0.125 +0.0% MINK 0.075 +0.0% DNO 0.300 +0.0% RRRL 0.150 +0.0% MTT 0.245 +0.0% BAU 0.180 −5.3% TECT 1.71 +3.0% TOM 0.140 +3.7% GOLD 4175.30 +1.6% SILVER 57.30 +2.5% COPPER 6.57 −1.3% OIL 97.57 +2.6% PALLADIUM 1133.75 +3.4% SGZ 0.035 +0.0% MKA 0.670 +0.0% LXM 0.175 −18.6% CLCH 1.09 −0.9% NSU 0.170 +9.7% WM 0.085 +0.0% YGT 0.180 +5.9% EVI 0.520 +4.0% ADZ 0.125 +0.0% MINK 0.075 +0.0% DNO 0.300 +0.0% RRRL 0.150 +0.0% MTT 0.245 +0.0% BAU 0.180 −5.3% TECT 1.71 +3.0% TOM 0.140 +3.7%
Drill Results

ALPHAMIN ANNOUNCES RECORD Q1 EBITDA GUIDANCE OF US$158 MILLION/ EXPLORATION UPDATE

Tin Price Surge and Cash Infusion De-Risk DRC Operations

By The Northwire Desk — AI Analysis Apr 09, 2026 · 09:09 AFM · 1.22 Alphamin Resources Corp.
Executive Summary
  • Record Q1 2026 Financials: Alphamin announced a record Q1 2026 EBITDA guidance of US$158 million, representing a 46% increase quarter-over-quarter.
  • Production Metrics: Tin production reached 5,026 tonnes in line with the FY2026 guidance target of ~20,000 tonnes annually. Ore processed was flat QoQ at 201,519 tonnes.
  • Commodity Price Impact: Average tin price achieved was US$49,278/t, a 30% year-over-year increase driving the EBITDA surge. All-in Sustaining Cost (AISC) guidance rose to US$17,968/t (+7% QoQ).
  • Liquidity Position: Net cash increased significantly to US$140 million as of March 31, 2026, up from US$11.96 million at the end of 2025 and a net overdraft position in late 2024.
  • Exploration Update: Drilling totaled 4,673 meters with two boreholes intersecting visible cassiterite (up to 3.01% Sn). A VTEM airborne survey is scheduled for Q2 2026.
  • Dividend Timing: Final FY-2025 dividend decision pending in late April 2026, aligned with the ABM AGM on April 23, 2026.
Material Impact
  • Financial Turnaround: The shift from a US$52 million overdraft position (Dec 2024) to US$183 million cash balance (Mar 2026) is a material de-risking event for the company's solvency and operational continuity.
  • Price Sensitivity: While EBITDA guidance beat expectations, it is heavily correlated with the tin price of ~US$49k/t. A reversion to historical averages would materially compress margins given the AISC increase.
  • Management Execution: The transition from CEO Maritz Smith to CFO Eoin O'Driscoll appears successful in driving cash flow generation and cost discipline, validating the strategic investor's (IRH) decision to take control.
  • Capital Allocation: With net cash of US$140 million, the company has no immediate need for dilutive financing, allowing focus on exploration and potential dividends rather than debt servicing.
AFM · Price
Company Overview
  • Company: Alphamin Resources Corp. (TSX-V: AFM).
  • Flagship Project: Bisie Tin Mine in North Kivu, Democratic Republic of Congo (DRC).
  • Operations: Underground mining at Mpama South and surface/underground operations at Mpama North.
  • Production Status: Operations resumed fully after a security-related shutdown in March 2025; currently producing ~5,000 tonnes per quarter.
  • Jurisdiction Risk: High-risk jurisdiction (DRC) with history of insurgent activity near the mine site (Masisi/Walikale border).
Read the original news release →

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Production / Operations