The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPERE.L Share News (PERE)

  • There is currently no data for PERE

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Pembridge Resources Nets USD5.4 Million From December Minto Sales

Fri, 10th Jan 2020 10:51

(Alliance News) - Pembridge Resources PLC on Friday said Minto Explorations Ltd has received its third revenue payment from the shipment of copper concentrate.

Pembridge bought Minto, which owns an underground copper-gold-silver mine in central Yukon, Canada, in June and restarted mining there in October.

Minto produced 2,919 dry metric tonnes of concentrate in December, which was then sold to Japan's Sumitomo Canada Ltd for USD5.4 million. The payment represents a 90% advanced payment, with the remaining 10% to be paid when the concentrate is delivered to Japan.

Transportation of the copper concentrate to the Skagway port is expected to begin early in the first quarter, followed by first shipment targeted for later in the quarter.

This takes the total paid to Minto to USD12.5 million since it restarted mining in Yukon.

Pembridge Chief Executive & Chair Gati Al-Jebouri said: "The December payment was a significant improvement on last month's due to the head grade improvements in the Minto East mining area, as well as a stronger copper and gold price."

Shares in Pembridge Resources were 0.1% higher in London on Friday at 14.77 pence each.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
12 Feb 2020 18:41

DIRECTOR DEALINGS: Pembridge Resources Boss Al-Jebouri Buys Shares

DIRECTOR DEALINGS: Pembridge Resources Boss Al-Jebouri Buys Shares

Read more
5 Feb 2020 11:13

Pembridge Resources Hires Accountant David James As New CFO

Pembridge Resources Hires Accountant David James As New CFO

Read more
28 Jan 2020 18:35

Pembridge Resources Makes First Concentrate Shipment From Canada Mine

Pembridge Resources Makes First Concentrate Shipment From Canada Mine

Read more
22 Jan 2020 13:36

Pembridge Resources "Encouraged" By Survey Data From Minto Mine

Pembridge Resources "Encouraged" By Survey Data From Minto Mine

Read more
21 Jan 2020 14:02

Pembridge Resources Looking For Third Party To Operate Yukon Mine

Pembridge Resources Looking For Third Party To Operate Yukon Mine

Read more
9 Jan 2020 12:42

Pembridge Resources Copper Production Up Each Month In Fourth Quarter

Pembridge Resources Copper Production Up Each Month In Fourth Quarter

Read more
16 Dec 2019 13:19

Pembridge Resources Returns To Main Market After 22 Month Absence

Pembridge Resources Returns To Main Market After 22 Month Absence

Read more
11 Dec 2019 15:16

Pembridge Resources Raises GBP2.5 Million Through Share Placing

Pembridge Resources Raises GBP2.5 Million Through Share Placing

Read more
4 Dec 2019 16:26

Pembridge subsidiary Minto gets second advance payment from Sumitomo

(Sharecast News) - Pembridge Resources said on Wednesday that, after the restart of operations on 15 October and first revenue of $3.4m received on 6 November, under the offtake agreement between Sumitomo Canada and Minto Explorations, Minto has received a 90% provisional payment of $3.7m for the copper concentrate produced during the month of November.

Read more
4 Dec 2019 12:27

Pembridge Resources Nets Almost USD4 Million From Second Minto Sales

Pembridge Resources Nets Almost USD4 Million From Second Minto Sales

Read more
25 Nov 2019 16:31

Pembridge Resources Proposes To Raise Up To GBP5 Million Via Placing

Pembridge Resources Proposes To Raise Up To GBP5 Million Via Placing

Read more
8 Nov 2019 15:42

Pembridge Resources Amends Wheaton Contract, Could Add USD8.5 Million

Pembridge Resources Amends Wheaton Contract, Could Add USD8.5 Million

Read more
6 Nov 2019 15:04

Pembridge Resources Nets Over USD3 Million From First Minto Sales

Pembridge Resources Nets Over USD3 Million From First Minto Sales

Read more
30 Oct 2019 18:08

Pembridge Resources Secures GBP1.7 Million Loan From Boss Al-Jebouri

Pembridge Resources Secures GBP1.7 Million Loan From Boss Al-Jebouri

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.