- Alphamin Resources (TSXV:AFM) has restarted production at its Bisie tin mine in the Congo’s Walikale District following a brief closure because of insurgent military activity in the area
- The company is a profitable low-cost tin concentrate producer active on two high-grade deposits in the Congo
- Alphamin stock has given back 48.72 per cent year-over-year but remains up by 300 per cent since 2020
Alphamin Resources (TSXV:AFM) has restarted production at its Bisie tin mine in the Congo’s Walikale District following a brief closure because of insurgent military activity in the area.
Insurgents occupied the town of Nyabiondo on March 9 and Kashebere on March 12, eventually finding their way to the town of Walikale, leading management to shut down production, evacuate personnel and institute care and maintenance. Exports continued uninterrupted, with Alphamin selling about 4,500 tons of tin between January 1 and April 8. Production for Q1 2025 reached 4,270 tons before the forced closure.
Following peace talks in Angola on March 18, the insurgents have since withdrawn from Bisie’s vicinity, moving over 130 km east back towards Nyabiondo and the town of Masisi, allowing Alphamin employees to safely return to work. The production restart, scheduled in phases, has all required consumables and spares in place to ensure a smooth ramp up.
Alphamin will release Q4 and full-year 2024 financial results by April 17, looking to continue an impressive stretch of net income profitability that extends back to 2021.
About Alphamin Resources
Alphamin is a low-cost tin concentrate producer active on two high-grade deposits in the Congo.
Alphamin stock (TSXV:AFM) last traded at C$0.60 per share. The stock has given back 48.72 per cent year-over-year but remains up by 300 per cent since 2020.
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