Alphamin Resources: Mpama Tin South project update

The initial development of the Mpama South underground mine has been completed on time. In addition, the underground development should ensure sufficient developed mineral resources to ensure adequate stockpiles ahead of the processing plant’s commissioning.

This should allow for a rapid ramp-up of tin production following plant commissioning. As was previously reported, logistical delays due to poor inbound road conditions have deferred the commencement of processing to the end of March 2024.

The processing plant mechanical erection and installation is essentially complete with the main outstanding work relating to completion of the installation of electrical cabling, the installation of instrumentation and the commissioning of the plant.

On the basis of incremental tin production from the Mpama South plant from 1 April 2024, Alphamin Resources expect contained tin production of between 17,000 tonnes and 18,000 tonnes for the year ending December 2024 (FY2023: 12,568 tonnes).

The Mpama South capital expenditure cost to steady state production, including operational readiness costs, are expected to exceed the US$116 million budget by approximately 10% primarily as a result of weather-related delays, higher logistical and import costs as well as minor scope changes.

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