Pembridge Resources pushes ahead as production resumes at Minto mine

News

What Pembridge Resources does


Pembridge Resources PLC (LON:PERE) is a mining company focused on the Minto mine, located in the Yukon in Canada.


Minto is an open pit and underground copper-gold-silver mine located in central Yukon, approximately 240 kilometres north of the capital Whitehorse along the Klondike Highway.


The company’s subsidiary, Minto Explorations Limited, has operated the underground copper-gold-silver mine since production restarted at the site in October 2019, the mine had previously been in production between 2007 and 2018, after which it was under care and maintenance until the resumption.


Inflexion points


  • In late-November, the company unveiled plans to raise between GBP3mln and GBP5mln via a share placing to fund development of the Minto mine
  • The company has amended a streaming agreement for Minto with Canadian giant Wheaton that it expects will be worth as much as US$8.5m over the next 12 months
  • In early November, the company received its first revenues from Minto in the form of a US$3.4mln payment from Japanese firm Sumitomo Ltd for concentrates produced that month

Executive interview – CEO Gati Al-Jebouri




Blue Sky


Al-Jebouri noted in November that the company expects revenues at its mining subsidiary to “grow steadily as Minto progresses through its ramps up phase”.

Leave a Reply

Your email address will not be published. Required fields are marked *