Alphamin Resources raises $44.3mn for Bisie Tin project

By Jonathan Dyble
Mauritius-based Alphamin Resources has announced the completion of a CAD$56mn (USD$44.3mn) equity financing, having issued almost 175mn shares at a pric...

Mauritius-based Alphamin Resources has announced the completion of a CAD$56mn (USD$44.3mn) equity financing, having issued almost 175mn shares at a price of CAD$0.32 (USD$0.26) per unit.

The cash raised included a private placement of 89.14mn shares in the aim of raising CAD$28.5mn, and a non-brokered placement of 85.86mn shares to raise CAD$27.5mn, totalling the CAD$56mn.

See also:

The proceeds will go towards the continued funding and development of the company’s Bisie Tin Project located in the North Kivu region of the Democratic Republic of Congo.

Alphamin describes this as one of the world’s most significant tin deposits, holding a belief that the continued development of the project could spark a catalyst for regional economic growth.

“Alphamin is committed to contributing to the stability and economic activity in North Kivu, bringing significant benefit to the community and other stakeholders alike,” the company says on its website.

In addition to the $44.3mn raised, the company converted $1.22mn of its debt due to Sprott Private Resourcing Lending and Barak Fund into 4.75mn shares.

Share

Featured Articles

The future of all-electric sustainable mining technologies

How far away are we from all-electric mines? We take a look at the key players and new technologies driving electrification in the mining industry

Anglo American first half earnings decline 28 percent

Anglo American cited Covid-19 related absenteeism, disrupted supply chains, weather extremes and geopolitical economic volatility for the drop in business

Equinox Greenstone gold project to launch first half 2024

Equinox Gold Corp. has provided a construction update at its Greenstone gold project in Ontario

Caledonia Mining Corporation expands Zimbabwe portfolio

Supply Chain & Operations

Rio Tinto reports 28 percent drop in first half earnings

Supply Chain & Operations

GCM Mining and Aris Gold form leading Americas gold producer

Supply Chain & Operations