Alphamin estimates Q2 EBITDA of $167M (U.S.)

Alphamin Resources Corp. (AFM) released preliminary second-quarter 2026 operating and financial results alongside an exploration update, reporting record EBITDA guidance of US$167 million. This figure represents a 6% increase from the US$158 million recorded in the first quarter of 2026, driven by a 5% rise in the average realized tin price to US$51,957 per tonne.

Contained tin production reached 5,013 tonnes, aligning with the annualized 20,000-tonne target. However, processing recovery declined to 72.8% from 74.2% in the first quarter due to higher metal sulphide interference. All-in sustaining costs (AISC) rose 6% to US$19,043 per tonne sold, primarily attributed to increased royalties, export duties, marketing commissions, and fuel and diesel costs.

The company’s net cash position decreased to US$91 million at June 30, 2026, down from US$140 million at March 31, 2026. This reduction followed US$160 million in shareholder distributions and US$26 million in corporate tax payments.

Exploration drilling at the Mpama North and South deposits intercepted significant visible cassiterite. Key intersections include the deepest cassiterite intersection at Mpama North, recorded at 1 meter at 696 meters depth, and a new 19-meter interval at Mpama South. Assays remain pending for several holes.

An airborne VTEM survey was completed in mid-June, with geochemical soil surveys currently underway and a downhole EM tool mobilized. Alphamin plans a resource and reserve update for the fourth quarter of 2026, with an interim dividend decision also expected during that period.

Alphamin Resources Corp. (AFM) issued a routine quarterly update containing no new transformative information. The company reported EBITDA guidance of US$167 million, a record figure that represents a 6% sequential increase driven primarily by a 5% rise in tin prices. Production remained on guidance.

An increase in All-In Sustaining Costs (AISC) and a drop in net cash resulting from shareholder distributions are consistent with prior disclosed plans, following a Q1 MD&A that flagged a final FY2025 dividend decision. Exploration results were described as encouraging but early-stage, with no new resource numbers provided.

The stock had recently pulled back from a high of 1.52 to 1.38 prior to the release, suggesting the market had already priced in strong cash flows.

Alphamin Resources Corp. operates the Bisie tin mine in North Kivu, Democratic Republic of Congo, through its subsidiary Alphamin Bisie Mining SA. As the only industrial mine in the province, it stands as one of the world’s highest-grade tin producers, utilizing two underground operations—Mpama North and Mpama South—to feed a processing plant with a combined capacity of up to 25,000 tonnes per year of contained tin. The company targets an annual production of 20,000 tonnes at a blended feed grade of approximately 3% Sn, holding a 6.5% share of the global mined tin market. In April 2026, International Resources Holding (IRH) acquired a 56% majority stake in the company at C$0.70 per share, establishing IRH as the controlling strategic investor.