Alphamin Resources Corp. took a secondary listing on the Non-ferrous Metals sector of the JSE AltX Board. The company is developing the 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.
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.”
Boris Kamstra, the CEO of Alphamin Resources says they are delighted 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 Bisie Tin Mine into production, backed up by their cash in this raise.”
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 Bisie Tin Mine will become part of mining history, as being one of the most profitable mines developed in recent times.”
“The 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 citizens 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”.
Alphamin Resources is the 19th company to list on the JSE this year, bringing the number of companies listed in the Gold Mining sector to nine.