27 Dec Alphamin’s secondary listing on AltX (non-ferrous metals category)

Alphamin Resources Corp.’s secondary listing on the JSE’s AltX will today move to a newly created non-ferrous metals sector.

The company took a secondary listing on the gold mining sector of the AltX board on Friday, 15 December 2017.

Alphamin Resources is developing the Bisie tin mine in the Democratic Republic of Congo (DRC) and has targeted South Africa to raise capital to fund the development of the mine.

Alphamin Resources has its primary listing on the TSXV 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 tin mine.

CEO Boris Kamstra 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 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 mine into production, backed up by their cash in this raise. They are joining the company’s core of supportive shareholders who are also supporting this raise both on the JSE and TSXV.”

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.”

Publication: Mining Review