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Alphamin Resources Expects Second-Quarter EBITDA of $167 Million

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Alphamin Resources (AFM.V) after trade Monday said it expects to report second-quarter EBITDA of about $167 million, up 6% from the previous quarter.

The company added the increase is driven by a 5% jump in the average tin price to $51,957 per tonne from $49,278 per tonne. Current tin prices are around $53,000 per tonne.

Alphamin also said it produced 5,013 tonnes of tin and sold 5,014 tonnes during the quarter, in line with its annual production target of 20,000 tonnes.

All-in sustaining costs are expected to rise 6% to $19,043 per tonne "due to a combination of off-mine costs in the form of increased royalties, export duties, marketing commissions and net smelter returns, which increase as tin price increases, and timing on capital expenditure," the company said.

The company added that its unaudited consolidated financial statements for the three and six months ended 30 June are set to be released around July 31.

Alphamin shares unchanged at C$1,38 on the TSX Venture Exchange.

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