Alphamin: the market loves tin
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Tin miner Alphamin has been one of the most interesting and exciting stories on the JSE in recent times. Over 12 months, the share price is up more than 130%. This year, it’s up around 32%.
The company produces around 4% of the world’s mined tin from its high-grade operation in the Democratic Republic of Congo. On a regular basis, it has been announcing drill results from the area. The bad news is that you need a geology degree to understand most of it.
For example, you’ll be thrilled to learn that subsequent drilling has “intersected visual cassiterite” – sounds exciting!
The Mpama South resource offers exciting growth prospects and is getting plenty of attention in the market. Mpama North is currently in operation and Mpama South is the next area of expansion for the company.
Back in March, the company announced the results of 102 drillholes. The latest update covers the results from 12 drillholes, which have given the best intercepts received thus far at Mpama South.
After releasing strong numbers for the first quarter of the year, this is further good news for Alphamin shareholders. In the March update, the company noted that Mpama South would take Alphamin to 6.6% of the world’s tin production and that the operation would be expected to achieve first tin production by December 2023. No update to this guidance was given in the latest announcement.
