Northwire Canada EditionFriday, August 28, 2026
Sign inSubscribe
Northwire
⌕
GOLD 4664.00 +0.2% SILVER 69.43 +0.9% COPPER 6.59 −1.6% OIL 83.53 +1.6% PALLADIUM 1358.50 +1.3% PTU 0.367 +0.7% TAU 3.68 +1.1% MOG 0.550 +0.0% NTH 0.165 +3.1% GWM 0.760 +13.4% IMM 0.060 +0.0% MUX 30.02 +3.0% UTWO 0.385 +1.3% AGI 52.56 +0.8% SGN 0.350 −2.8% VRR 0.470 +17.5% AUXX 11.00 +2.7% BTR 0.130 −1.9% CCMI 0.035 +0.0% LME 0.135 +3.9% TLG 2.37 +2.6% GOLD 4664.00 +0.2% SILVER 69.43 +0.9% COPPER 6.59 −1.6% OIL 83.53 +1.6% PALLADIUM 1358.50 +1.3% PTU 0.367 +0.7% TAU 3.68 +1.1% MOG 0.550 +0.0% NTH 0.165 +3.1% GWM 0.760 +13.4% IMM 0.060 +0.0% MUX 30.02 +3.0% UTWO 0.385 +1.3% AGI 52.56 +0.8% SGN 0.350 −2.8% VRR 0.470 +17.5% AUXX 11.00 +2.7% BTR 0.130 −1.9% CCMI 0.035 +0.0% LME 0.135 +3.9% TLG 2.37 +2.6%
Drill Results Material +

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 →

More from Alphamin Resources Corp.

Jul 30, 2026 · 18:24

Alphamin met Q2 tin output targets despite rising costs and aggressive dividend payouts.

Regulatory Jul 14, 2026 · 02:12

Alphamin reported a record Q2 EBITDA of $167M despite rising AISC and cash burn driven by heavy shareholder returns.

Drill Results Jul 13, 2026 · 17:01

Alphamin reported record EBITDA driven by higher tin prices, though flat production and rising AISC costs constrained potential upside surprises.

Drill Results Mar 11, 2026 · 08:00

High-Grade Tin Powerhouse Navigates Geopolitical Volatility to Deliver Record EBITDA and Dividends

Drill Results Jan 19, 2026 · 09:04

Alphamin Hits Record Production and Spectacular Grades while Reshuffling the C-Suite

Production / Operations Dec 26, 2025 · 01:32

Alphamin employee at Mpama South dies from blast

Production / Operations