Source: Core Consultants
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 121.4 kilotons (kt) tin contained on June 30, 2022 in the proven and probable mineral reserve categories with a 15.7 per cent increase in grade to 4.64 per cent tin at Mpama North.
  • Contained tin inventory over LoM of 154.5kt on June 30, 2022
  • Mining has progressed steadily at Mpama North since the 2019 estimate of the reserves and LoM schedule
  • The company produces four per cent of the world’s mined tin from its high-grade operation in the Democratic Republic of Congo
  • Alphamin Resources Corp. (AFM) is down four per cent per cent and is trading at C$0.72 as of 3:24 pm EDT

Alphamin Resources (AFM) releases Mineral Resource, Mineral Reserve estimates and an updated Life of Mine schedule (LoM) for the Mpama North Mine.

These updates replace those announced earlier by Alphamin in the Technical Report from April 22, 2022 which, for Mpama North, were not updated and remained the same as those contained in the technical report effective December 31, 2019.

The culmination of these resource and reserve updates is the re-design and scheduling of the Mpama North Mine into an updated Life of Mine (LoM) schedule.

Highlights:

The updated LoM schedule shows:

  • replacement of contained tin depleted over the past 2.5 years.
  • contained tin inventory over LoM of 154.5 kilotons (kt) on June 30, 2022 (December 31, 2019 = 154.2kt).

The updated Resource shows:

  • 155.7kt (30 June 2019: 199kt) and 41.2 kt (30 June 2019: 21.8kt) tin contained (which includes mineral reserves) on April 30, 2022 in measured/indicated and inferred resources, respectively, along with an eight per cent and a 65.4 per cent increase in grade respectively.

The updated Reserve shows:

  • 121.4kt tin contained on June 30, 2022 (31 Dec 2019 = 133.4 kilotons) in the proven and probable mineral reserve categories with a 15.7 per cent increase in grade to 4.64 per cent tin.

Alphamin Resources is a low-cost tin concentrate producer from its high-grade deposit at Mpama North in the Democratic Republic of Congo (DRC).

Alphamin Resources Corp. (AFM) is down four per cent per cent and is trading at C$0.72 as of 3:24 pm EDT.


More From The Market Herald

" Victoria Gold (TSXV:GCX) reports Q2 2022 results

Victoria Gold (GCX) released its Q2 2022 results, mostly stemming from its Eagle Gold Mine in Yukon.

" Sandstorm Gold receives court approval for Nomad Royalty (TSX:NSR) acquisition

Nomad Royalty Company (NSR) announced that the Superior Court of Québec has issued a final order approving its acquisition by Sandstorm Gold Ltd.
Grizzly Discoveries Inc. - President & CEO, Brian Testo

" Grizzly (TSXV:GZD) to begin drilling targets

Grizzly Discoveries Inc. (GZD) has announced plans to begin drilling on the Greenwood Project before the end of this month.

" Winshear Gold (TSXV:WINS) upsizes private placement

Winshear Gold (WINS) has increased its previously announced non-brokered private placement financing to $650,000.