Alphamin Announces Q3 Financial Results and Exploration Updates
News related to:Alphamin Resources Corp · 2 min read
Grand Baie, MAURITIUS, Oct. 06, 2026 /CourierPR/ -- Alphamin Resources Corp. has announced its interim FY2026 dividend and provided an operational update for the quarter ended September 2026. The company has declared an interim dividend of CAD$0.13 per share, amounting to approximately US$120 million in the aggregate. This dividend will be payable on November 6, 2026, to shareholders of record as of the close of business on October 23, 2026.
The company's tin production and sales for the quarter were in line with expectations. Alphamin produced 5,030 tonnes of tin and sold 5,046 tonnes, maintaining its forecast guidance of 20,000 tonnes per annum. Ore processed increased by 1% to 213,454 tonnes, with the tin grade of the feed ore down marginally from 3.3% in Q2, 2026, to 3.2% in Q3, 2026. The overall plant recovery was 72.9%. Tin sales volumes were supported by favourable road conditions and transit times during the quarter.
Alphamin has provided Q3 EBITDA2,3 guidance of US$171 million, up 2% from the prior quarter. The increase in EBITDA is attributed to approximately $300 per tonne in off-mine costs, such as royalties, export duties, the smelter deductor, and marketing fees, which are directly proportionate to the tin price increase. The remainder of the increase pertains to higher on-mine costs due to higher diesel costs and inbound and outbound logistics and transport costs.
The company's unaudited consolidated financial statements and accompanying Management’s Discussion and Analysis for the quarter ended September 30, 2026, are expected to be released on or about November 12, 2026.
Exploration activities continued during the quarter, with drilling completed at both Mpama South and Mpama North. At Mpama South, a total of 3,574.65 metres were drilled, with the BGH206D2_T5 returning the widest and highest-grade result to date, with an interval of 19.29 metres grading 5.76% Sn from 426.41 metres depth. Four of the five holes completed during the quarter intersected visible cassiterite mineralisation, with external laboratory assays pending for all four.
At Mpama North, the underground exploration drive, which will provide platform access for future deep drilling, is approximately 30% complete. Drilling from surface at Mpama North was constrained by the availability of drill rods, and two mother holes were abandoned following ground collapse and a rod breakage encountered in difficult ground conditions. Drill rod and spare parts availability is expected to normalise by mid-Q4 2026.
Alphamin has also initiated a geochemical soil sampling programme, which commenced in Q2 2026, covering the Mpama Ridge north of the Oso River and areas with basement geology similar to that hosting the Bisie deposit. Phase one of the programme is planned to comprise approximately 13,000 samples over approximately six months, with 3,868 samples collected during the quarter within licence PR10346.