AFMJF - Alphamin Resources gains on report of potential sale

Alphamin Resources (OTCPK:AFMJF) jumped 9% on a report that the tin miner has begun a potential sale of the company. The TSX-listed company is working with boutique form Cutfield Freeman & Co. and has sent out materials to possible bidders, according to traders, who cited a Bloomberg report. Alphamin has a market cap of about C$1.44 billion ($1.14 billion). Alphamin (AFMJF) may see interest from Chinese bidders as well as private equity firms, Bloomberg said. The report comes after Alphamin (AFMJF) announced in November that it was starting a strategic review to explore alternatives, including a potential sale.

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Alphamin Resources gains on report of potential sale