Alphamin Resources Corp. Announces Commencement of Hot Commissioning at Bisie Tin Mine, Appointment of Douglas Strong to the Board and Release of Year End Results
TSX VENTURE: AFM
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GRAND BAIE, Mauritius, April 30, 2019 (GLOBE NEWSWIRE) -- Alphamin Resources Corp. (AFM: TSXV, “Alphamin” or the “Company”) is pleased to announce that it has commenced hot commissioning at its flagship Bisie Tin Project (“Bisie”).
Construction of the mine was completed in the first quarter of 2019. Wet commissioning, whereby the plant runs on water, was completed in the week commencing April 22, 2019. Hot commissioning, which involves feeding the plant with material, checking instrumentation calibration, process flows and individual equipment throughput. The hot commissioning which builds up to instantaneous design throughput of 50 tons per hour into the jigging section and 8 tons per hour into the gravity concentration section, commenced on April 25, 2019 and is expected to complete during the week ended May 5, 2019. Following the completion of hot commissioning the Company will enter the final commissioning phase of product optimisation.
The Company remains on track to achieve commercial production in the second half of 2019.
Mr. Douglas G. Strong has been appointed to the board of the Company, subject to regulatory approval, effective May 1, 2019. Mr. Strong is a globally experienced former senior bank executive and chartered accountant. Through his long international banking career, most recently as Managing Director Mining & Metals at Standard Chartered Bank, Douglas gained significant successful exposure to mining and metals, international management, project finance execution and origination & relationship management. Since leaving banking Mr. Strong has worked with Gerald Metals, responsible for Corporate Finance. He is also Chairperson of the Gerald Group, HSEC Committee.
The Company has also released its financial statements and MD&A for the year-ending December 31, 2019 which are available on SEDAR.
Further information, videos and photographs of the Project’s progress are available on the Alphamin Resources Corp. website at www.alphaminresources.com.
|FOR MORE INFORMATION, PLEASE CONTACT:|
|Boris Kamstra||Alphamin Resources Corp.|
|Chief Executive Officer||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:|
|Boris Kamstra, Chief Executive Officer|
|Tel: +230 269 4166|
|Grand Baie, Mauritius|
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 the intended completion of additional financing and the anticipated use of funds from such financing, the participation of Tremont and other stakeholders, the satisfaction of conditions precedent under the Credit Facility, the Company’s intentions to raise the balance of funding required to complete construction of the Project and the sources thereof, additional subscription by IDC, costs of production, success of mining operations, the ranking of the project in terms of cash cost and production, economic return 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 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 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.