PERE.L Share News (PERE)

Pembridge Resources - Canada-focused mining company - Reports 5,143 wet metric tonnes of concentrate were produced during the fourth quarter of 2020 at Minto Explorations Ltd's mine, which was down from 5,707 wet metric tonnes in the third quarter. Says 24,646 wet metric tonnes of concentrate were produced during the whole of 2020, which was up considerably from 7,167 wet metric tonnes in 2019.

"This has been a quarter of continuing development at the Minto mine, having started active production from the Copper Keel area and development in Copper Keel West area. The lower volume of concentrate produced in the fourth quarter compared to the third quarter was expected and is due to the processing of slightly lower grade ore in the fourth quarter, 1.07%, compared to the third quarter, 1.09%, which as explained in the third quarter operation update, is due to including the final commercially viable tonnes from the Minto East ore body as well as the impact of start up production from Copper Keel area," says Chief Executive Gati Al-Jebouri.

Current stock price: 5.60 pence

Year-to-date change: up 7.7%

By Zoe Wickens; zoewickens@alliancenews.com

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