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Thanks Lotto good analysis. Lets face it (Covid operating restrictions aside) we should be making money at copper sustainably above $3 and gold >$1800. It will be great when we see the production numbers start to feed through into sale of product at these prices in the next quarter or two assuming always the ramp up remains on course. GLA
Simms: Pembridge holds an 11% economic interest in the Minto Explorations subsidiary-this includes the mine-mill complex and the 250 sq km land in the same belt. However, it runs the operations through the team at Minto explorations limited, with the support of the PE investors. Also PERE controls 100% of the voting shares and has representation on the Minto board which makes day to day decisions.
As regards cash position and future cash calls, Minto is cash generative given (advance revenue) monthly payments by Sumitomo, given the 3m USD cash injection in June end by the investor consortium and lastly given the 12m USD credit facility signed recently by them with Sumitomo. I believe this means we wont see further cash calls from Pere. Covid quarantine costs were offset by govt subsidies (mentioned in the recent H1 report).
The main reason the op was in jeopardy in early 2020 was because COVID hit operations AND Copper price, before the op had achieved scale. I believe the mill is now processing at full capacity (4000t per day of ore), BUT running two weeks on and two weeks off (given the mine is only producing some 2000 t per day). This is from the data on the website
www.mintomine.com
Q4 2020 is about scaling up production and the current copper price range is sufficient in my opinion to keep things buoyant. Based on broker numbers (broker note on Pere website) and historic Capstone numbers on AISC etc. These are only my opinions. Please DYOR. Good luck
Am i right in saying that Pembridge now has a 11% interest in the Minto mine after the recent dilution from other investors. is that likely to be diluted further due to further raises needed if Covid continues to impact costs for quarantining staff as i just want to understand the likelihood that Pembridge might be diluted further as 11% is not a great deal of exposure and would appear to reduce any control over the operation of the mine?
good news. Which trade is yours?
I AM IN !
now is not time to sell, its in fact time to buy !
i can see that we will follow how ARS and ARCM have risen, they have not produced anything as yet, but look at their mcap vs ours !