PERRIERI OFFICE SUITES, C2-302, Level 3, Office Block C, La Croisette, Grand Baie 30517, Mauritius The above media statement and accompanying material for media use are issued by ALPHAMIN RESOURCES CORP. without embargo unless an embargo is indicated above
NEWS RELEASE
C/o ADANSONIA MANAGEMENT SERVICES LIMITED, Suite 1,
PERRIERI OFFICE SUITES, C2-302, Level 3, Office Block C,
La Croisette, Grand Baie 30517, Mauritius
The above media statement and accompanying material for media use are issued by
ALPHAMIN RESOURCES CORP. without embargo unless an embargo is indicated above
ALPHAMIN EXERCISES OPTION TO DEFER DEBT CAPITAL REPAYMENTS
MAURITIUS – March,16 2020 – Alphamin Resources Corp. (AFM:TSXV, APH: JSE AltX,
“Alphamin”, or the “Company”) is pleased to announce that it’s 80.75% subsidiary, Alphamin
Bisie Mining SA (“ABM”), has exercised its previously announced option with senior lenders
to defer debt capital repayments.
As announced on 16 October 2019, the Company’s lend er consortium granted an option to
ABM to elect to amend quarterly debt capital instal ments of approximately US$8.17 million
commencing the end of March 2020, to a deferred monthly capital instalment schedule as set
out below (“the Option”). ABM has exercised the Option.
The revised debt instalment schedule (principal and interest) is as follows:
Ongoing monthly payments of US$1.3 million (intere st only) to the end of June 2020
From the end of July 2020, a monthly fixed debt ca pital instalment of approximately
US$2.72 million over 36 months, plus interest (initially US$1.3 million per month)
The result is a reduction of approximately US$16.34 million in debt capital repayments for the
2020 financial year.
The exercise of the Option offers Alphamin the oppo rtunity to strengthen its working capital
position prior to the commencement of debt capital repayments. A cash fee of US$400,000
was paid upon the exercise of the Option.
The recent coronavirus outbreak is having an impact on global commodity prices. The LME tin
price has recently ranged between US$15,000/t and US$17,000/t compared to the Company’s
NI 43-101 Technical Report which assumed a price of US$17,000/t. The Company continues
to focus on achieving its full production targets at the lowest possible unit cost.
FOR MORE INFORMA TION, PLEASE CONTACT:
Maritz Smith
CEO
Alphamin Resources Corp.
T el: +230 269 4166
E-mail: [email protected]
The above media statement and accompanying material for media use are issued by
ALPHAMIN RESOURCES CORP. without embargo unless an embargo is indicated above
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined
in the policies of the TSX Venture Exchange) accept s responsibility for the adequacy or
accuracy of this news release.