[SMM Tin Briefing: Yunnan Tin Co., Ltd. Won 100% Equity of Chifeng Dajingzi Tin Industry for 177 Million Yuan]

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 16 Jul , 2026

Alongside its strong financial performance, Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX) announced significant breakthroughs in its ongoing exploration and drilling programs during the second quarter of 2026. The company completed a total of 5,547 meters of drilling, focusing heavily on deep resource extensions that have yielded highly promising results. At the Mpama North site, where 1,893 meters were drilled, the exploration team achieved a critical milestone. They successfully intersected a zone of intense chlorite alteration containing visible cassiterite mineralization at a vertical depth of approximately 610 meters. Although this specific vein was thin, it represents the deepest cassiterite intersection recorded at Mpama North to date, providing concrete evidence that the tin mineralizing system remains open and extends significantly deep below the surface. Parallel drilling efforts at the Mpama South site, totaling 3,654 meters, also delivered excellent results. This campaign specifically targeted depth extensions of the defined resource, with three out of the five completed holes successfully intercepting visible cassiterite. The standout discovery came from hole BGH206D2_T5, which revealed significant visible tin mineralization alongside intense chlorite and sulphide alteration between depths of 426.41 meters and 445.70 meters down-hole, marking it as the most critical new intersection of the current exploration program. Alphamin is advancing several key future initiatives to map and extend its resources. A comprehensive Versatile Time Domain Electromagnetic (VTEM) airborne survey covering the full license area was completed in mid-June, with data interpretation expected in the third quarter to help identify massive sulphides and isolate advanced drill targets. Additionally, a massive soil geochemical campaign is currently underway, planning to collect 13,000 samples over the next six months to test adjacent geological settings. Ultimately, these extensive exploration efforts will culminate in an updated comprehensive Resources and Reserves estimate, which remains on track for release in the fourth quarter of 2026.

Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX) has released its operational and financial guidance for the second quarter of 2026, highlighting record earnings and stable high-volume output. The company achieved a major milestone by maintaining a steady contained tin production of 5,013 tonnes and sales of 5,014 tonnes. This consistent performance marks the company's first successful four-quarter rolling period of meeting its 20,000-tonne annualized production target. Overall plant recovery did experience a slight dip of 2% to 72.8%. This temporary decrease was primarily due to above-average metal sulphide levels in the current mining area, which generated excessive near-gravity material that interfered with the efficiency of the processing gravity circuit. Financially, the company reported an all-time high estimated Q2 EBITDA of US$167 million, representing a 6% quarter-over-quarter increase. This robust financial growth was driven by a 5% rise in the average achieved tin price, which reached US$51,957 per tonne, with current spot prices hovering around US$53,000 per tonne. Concurrently, the All-In Sustaining Costs (AISC) rose by 6% to US$19,043 per tonne sold. This cost increase was directly tied to the higher tin prices, which elevated off-mine expenses such as royalties, export duties, and marketing commissions, alongside increased on-mine operating costs resulting from higher global diesel and transportation prices. Despite these increased costs and substantial capital allocations, Alphamin maintains a highly robust balance sheet. The company closed the quarter with a strong net cash position of US$91 million after distributing US$160 million to shareholders and subsidiary minorities, as well as paying US$26 million in corporate taxes. Looking ahead, the Board of Directors intends to make its interim dividend decision for the 2026 financial year during the fourth quarter.