Alphamin Hits Record $158M EBITDA as Tin Prices Soar to New Heights

GRAND BAIE, MAURITIUS – April 09, 2026 – Alphamin Resources Corp. is capitalizing on a historic surge in tin prices, announcing record preliminary EBITDA guidance of US$158 million for the first quarter of 2026. The staggering 46% increase from the previous quarter underscores the potent combination of consistent operational output and a voracious global appetite for the critical metal.

The company’s net cash position swelled by US$128 million, finishing the quarter at a robust US$140 million. This financial windfall is directly tied to the soaring price of tin, which Alphamin sold for an average of US$49,278 per tonne in Q1, a 30% jump from the prior quarter. While production remained stable at 5,026 tonnes, the market dynamics have transformed the company’s financial landscape.

The Global Tin Boom

Alphamin’s exceptional quarter is a reflection of a wider global trend. Tin, a crucial component in soldering for circuit boards and semiconductors, is at the heart of the technological revolution. Explosive demand from the artificial intelligence (AI) sector, data center expansion, and the green energy transition has created a structural deficit in the market.

This demand surge is colliding with severe supply constraints. Major producing nations like Indonesia and Myanmar have faced export disruptions, while global warehouse inventories on exchanges like the London Metal Exchange (LME) remain at critically low levels. This tight supply has sent prices skyrocketing, with LME tin futures breaking previous records and trading near US$50,000 per tonne in recent months. Analysts widely forecast prices to remain elevated as demand is projected to outstrip the pace of new mining projects for the foreseeable future, positioning low-cost, high-grade producers like Alphamin in an exceptionally strong position.

Balancing Profits with Operational Realities in the DRC

While record revenues paint a rosy picture, operating in the Democratic Republic of Congo (DRC) presents a complex financial equation. The company’s All-in Sustaining Cost (AISC) rose by 7% to US$17,968 per tonne sold. This increase is not a sign of operational inefficiency but rather a direct consequence of the higher tin price itself.

Under the DRC’s 2018 mining code, royalties on base metals like tin are set at 3.5%, and a 50% super-profit tax can be applied when commodity prices significantly exceed initial projections. As Alphamin’s revenue per tonne increases, so do its mandatory payments in the form of royalties, export duties, and marketing commissions, which are calculated against the metal’s market value.

Furthermore, the company is bracing for future cost pressures. While increased fuel prices did not materially affect Q1 results, Alphamin noted it has been sourcing additional diesel at premiums of 25% to 35% since early March. With direct diesel consumption accounting for over $2,000 per tonne of its AISC before these price hikes, the impact is expected to be felt in the second quarter. These factors highlight the delicate balance Alphamin must strike between maximizing returns from the price boom and managing the inherent costs and risks of its operating environment.

Beyond the Boom: Drilling for a Long-Term Future

Alphamin is strategically deploying its windfall to ensure its dominance extends far beyond the current market cycle. The company has intensified its exploration activities, focusing on a three-pillar strategy: expanding resources at its existing Mpama North and Mpama South deposits, discovering the next major deposit near the Bisie mine, and pursuing regional grassroots exploration.

In Q1, the company drilled 4,673 meters. At Mpama South, drilling yielded encouraging results, with one borehole intersecting visible cassiterite (tin ore) across two zones, including a 7.01-meter section at a high grade of 2.46% tin. While deeper holes in the area did not find mineralization, the data is being used to refine geological models for better future targeting.

Exploration at the main Mpama North deposit proved more challenging, with drilling encountering a fault structure and yielding only one thin, low-grade intercept. However, the company is adapting its strategy, with new drill holes planned to explore deeper targets and understand the impact of the fault.

To enhance its discovery odds, Alphamin is deploying advanced technology. A downhole electromagnetic (EM) survey tool is being mobilized to help map mineralization underground, while a VTEM airborne survey of the entire license area is planned for Q2. These efforts, combined with extensive geochemical soil sampling, are critical for extending the mine's life and cementing Alphamin’s status as a cornerstone of the global tin supply for years to come.

Rewarding Shareholders, Eyeing the Future

The company’s surging cash reserves have put it in a strong position to reward its investors. With a history of robust dividend payments, including a total of C$0.11 per share in fiscal year 2025, all eyes are on the upcoming board meeting on April 29, 2026. At this meeting, a final dividend for FY2025 will be considered, following the annual general meeting of its DRC operating subsidiary.

The substantial cash flow provides Alphamin with significant flexibility, allowing it to return capital to shareholders while simultaneously funding its ambitious exploration programs. This dual approach of capitalizing on the present boom while aggressively investing in the future demonstrates a clear strategy to build sustainable, long-term value. As the world's demand for tin continues to grow, Alphamin's efforts to expand its resource base in the DRC will be crucial for both the company and the global technology supply chain.