Johannesburg, 15 December 2017: Today Alphamin Resources Corp. (Alphamin Resources) took a secondary listing on the Gold Mining sector of the JSE AltX Board. The listing will move to the newly created Non-ferrous Metals sector of the JSE AltX Board on 18 December 2017. Alphamin Resources is developing the Alphamin Bisie Tin Mine in the Democratic Republic of Congo and has targeted South Africa to raise capital to fund the development of the mine.
Alphamin Resources has its primary listing on the Toronto Venture Exchange in Canada. The company holds, as its principal investment, a controlling interest (80.75%) in Alphamin Bisie Mining SA, the vehicle which operates the Bisie Tine Mine.
Boris Kamstra, the CEO of Alphamin Resources says they are pleased to have a market presence on the JSE’s AltX. “The timing is perfect for investors to take part in the development of the Alphamin Bisie Tin Mine project, the highest-grade known tin deposit in the world. A number of Alphamin Resources’ key contractors have subscribed in the placement. We are reassured by their faith in the project, the team, the region and their ability to bring the Alphamin Bisie Tin Mine into production, backed up by their cash in this raise. They are joining Alphamin Resources’ core of supportive shareholders who are also supporting this raise both on the JSE and TSXV.”
Kamstra elaborates, “Alphamin Resources’ Bisie Tin Mine project is the start of unlocking, what we believe will become, the world’s premier tin producing area. In doing so the Alphamin Bisie Tin Mine will become part of mining history, as being one of the most profitable mines developed in recent times.”
Donna Nemer, Director of Capital Markets at the JSE, says the JSE is proud to provide a platform for companies in the rest of Africa to raise capital in the South African market. “As the JSE we believe we have an important role to play in the development of not only the South African economy, but also that of the greater African continent. A listing on the JSE gives companies like Alphamin access to our deep and highly liquid capital markets, while providing investors a means of getting exposure to Africa’s great growth potential through a well-regulated and trusted entry point.”
“The Alphamin Bisie Tin Mine will bring a level of prosperity to the Walikale region, North Kivu, the DRC and East Africa as a whole, which was previously not considered possible. The consequence of this will be vastly improved quality of life for the population of these areas, improved governance, stability and security, whilst delivering superior shareholder returns. This JSE AltX listing is a key part of the final leg of bringing this all into being”.
FOR MORE INFORMATION, PLEASE CONTACT:
Chief Executive Officer, Alphamin Resources Corp.
Tel: +230 269 4166
Grand Baie, Mauritius
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.
ISSUED ON BEHALF OF THE BOARD OF DIRECTORS OF ALPHAMIN RESOURCES CORP. BY:
Chief Executive Officer
Tel: +230 269 4166
Grand Baie, Mauritius
MORE INFORMATION ON ALPHAMIN RESOURCES CORP.:
Alphamin is a tin exploration and development company with the vision to be respected in the international tin sector by unleashing the full profit and potential of its world-class tin asset in North Kivu, DRC currently under development.
Alphamin has the vision to become a premier tin producer by:
- Leading a world-class, profitable mining company in North Kivu, delivering results for the benefit of all stakeholders and viewed with respect by the communities and Government.
- Becoming a profitable tin producer, while continuing with exploration to increase life of mine. ABM intends to operate a profitable tin mine in a safe environment and uplifting the local community. Alphamin is striving to develop the first, low-cost per tonne tin, commercial mine in North Kivu, while at the same time making a marked, positive impact on the communities surrounding the mine. We intend to be a tin mining company that excels at the production of tin and provides leadership for the region in terms of safety, health, environment and community development.
- Delivering on the commitment to develop the first large, commercial tin mine in that part of the country – giving Alphamin credibility locally and abroad – and becoming a business transformation reference in the tin mining industry.
- Creating value for both shareholders and the community.
- Committing, from the date of production, to spend 4 percent of its in-country operating and administrative expenses on community development. This investment will be governed with representative input from local communities and managed by the Lowa Alliance, a GDRC-regulated not-for-profit foundation. Alphamin will continue to preserve its legal rights to develop the ABM project and explore ways to assist artisanal miners to transition from illegal to legal status, conflict-free sites elsewhere in the region.
- Implementing community projects, supported by the alliance, being selected following an in-depth survey of the 13 500 households (approximately 80 000 residents) across the 44 communities closest to Bisie. Representative committees will prioritise a range of projects to promote social and economic development to which they, local authorities and potentially external donors, will also contribute. These projects would provide incentives for income beyond illegal artisanal mining while also providing educational and health infrastructure and services like potable water, malaria reduction and treatment and primary health care capacity building.
MORE INFORMATION ON THE JSE
The Johannesburg Stock Exchange is based in South Africa where it has operated as a market place for the trading of financial products for 130 years. It connects buyers and sellers in equity, derivative and debt markets. The JSE is one of the top 20 exchanges in the world in terms of market capitalisation and is a member of the World Federation of Exchanges (WFE) and holds the chairmanship of the Association of Futures Markets (AFM). The JSE offers a fully electronic, efficient, secure market with world class regulation, trading and clearing systems, settlement assurance and risk management. www.jse.co.za
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information in this news release that is not a statement of historical fact constitutes forward-looking information. Forward-looking statements contained herein include, without limitation, statements relating to expected listing on the JSE AltX, costs of production, success of mining operations, the ranking of the project in terms of cash cost and production, economic return estimates, estimated capital costs for the project, the timing for the commencement of commercial production, mineral resource and reserve estimates, social, community and environmental impacts, and continued positive discussions and relationships with local communities and stakeholders. Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Although Alphamin has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to: Alphamin’s ability to secure sufficient financing to advance and complete the Bisie Tin Project, uncertainties associated with Alphamin’s resource and reserve estimates, uncertainties regarding the estimation of future costs, uncertainties regarding global supply and demand for tin and market and sales prices, uncertainties associated with securing off-take agreements and customer contracts, uncertainties with respect to social, community and environmental impacts, adverse political events, uncertainties with respect to optimization opportunities for the Bisie Tin Project, as well as those risk factors set out in the Company’s Management Discussion and Analysis and other disclosure documents available under the Company’s profile at www.sedar.com. Forward-looking statements contained herein are made as of the date of this news release and Alphamin disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.”
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.