Alphamin Resources Provides Bisie Project Update/Announces Private Placement

Alphamin Resources (TSX VENTURE:AFM) announced an update on its Bisie tin project.
According to the press release:

The highlights include strengthening the project team and infrastructure improvements around the project area. A US$8.5m private placement is also planned.
“Alphamin is pleased to announce continued progress towards bringing its Bisie project into production. This includes attracting and retaining additional premier skills to the current Alphamin team. Richard Robinson will be leading Alphamin Bisie Mining SA, Alphamin’s DRC company. Richard has many years of experience in the interface between mining companies, the GoDRC, local communities, and artisanal miners. Richard has moved with his family to Goma from where he will be guiding Alphamin’s operations. Alphamin is pleased to welcome Ian Dun, who was previously responsible for optimising the processing plants of Minsur, including at their San Rafael mine. Ian has joined the Alphamin team to apply his high grade tin processing knowledge to Alphamin’s process design for Bisie. To assist us with mine design we are fortunate to have, via DRA, secured the services of Tony Cox, one of the world’s leading Sub Level Caving Mining Engineers. Alphamin has also made significant strides preparing the supporting infrastructure for our operations. The access track linking Bisie to the Walikale Kisangani road has been cleared and will shortly be able to accommodate 4 ton loads. This will be upgraded further to accommodate the heavy vehicles required to transport the construction materials to Bisie. Trucks carrying seven containers of materials required for the early works have recently made the trip from Johannesburg to the head of the Bisie access road in an average time of 21 days. The rehabilitation work done by the Government of North Kivu, supported by Alphamin, on the Goma Walikale road contributed materially to this and bodes well for efficient logistics during operations. Alphamin intends to make a $8.5m non brokered private placement in September. The proceeds will be used to fund Bisie’s development up to the final capital raise for the construction of this project.” Boris Kamstra, CEO Alphamin Resources Corp.

Click here for the full press release.