Pembridge Resources - Canada-focused mining company - Says the operator arrangement in relation to the Minto mine was terminated last week Friday.
On January 1, 2020 Minto Management Ltd was appointed as an operator under a contract in which it acted as the advisor to the Minto general manager, provided direction to senior members of staff on day-to-day matters and helped in the development of mine operations.
However, on Thursday Pembridge Chief Executive & Chair Gati Al-Jebouri said: "The operator has played an important part in helping the Minto team towards its achievements so far in the year, which included sending three concentrate shipments to its customer in Japan and opening up the Copper Keel mining area. However, this was a transitional role, and it is now time for Minto to move forward under its in-house management expertise."
Current stock price: 5.37 pence
Year-to-date change: up 3.3%
By Ife Taiwo; ifetaiwo@alliancenews.com
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