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.
