ALPHAMIN ANNOUNCES FILING OF YEAR END FINANCIAL RESULTS/AWARD OF LONG TERM INCENTIVES/EXPLORATION UPDATE

The most recent news (March 11, 2026) confirms that Alphamin has successfully navigated a turbulent 2025 to deliver record financial results. Key highlights include FY2025 tin production of 18,576 tonnes (up 7% YoY) and a 25% increase in EBITDA to US$341 million. The company issued FY2026 guidance of 20,000 tonnes of contained tin, signaling a return to full capacity following the security-related shutdowns in early 2025. Exploration is accelerating with three rigs active and a fourth arriving, supported by the appointment of a new Head of Exploration. Dividends for FY2025 totaled CAD$0.11 per share, up from CAD$0.09.

The news is Routine - Positive. While the financial figures are impressive, they are largely in line with the preliminary production update provided in January 2026. - Operational Recovery: The company has successfully recovered from the March 2025 insurgent-led shutdown, proving its ability to restart complex operations in the DRC. - Guidance Confirmation: The 20,000-tonne guidance for 2026 is a return to the "pre-interruption" targets, suggesting the Mpama South expansion is now contributing meaningfully. - Exploration Upside: The transition from "production-only" to "aggressive exploration" (VTEM surveys and 4 rigs) is a strategic shift under the new majority shareholder, IRH, aimed at extending the life of mine (LOM). - Dividend Growth: The increase in the annual dividend payout demonstrates strong free cash flow generation despite elevated AISC (US$16,861/t in Q4) and significant tax payments.

Alphamin operates the Bisie Tin Mine in the North Kivu Province of the DRC. It is one of the highest-grade tin mines in the world. The project consists of Mpama North (current primary production) and Mpama South (recently commissioned expansion). The combined complex is targeting 20,000 tonnes of tin per annum, representing approximately 6-7% of global mined tin supply.