Pembridge Resources PLC - miner with interest in Minto copper-gold-silver project in Yukon, Canada - Says the first payment of USD5 million of the purchase price for the acquisition of Minto Explorations Ltd from Capstone Mining Corp has been made.
Chair Gati Al-Jebouri says: "The Minto operations have developed significantly since the acquisition of Minto in June 2019 and have withstood the challenges posed to it over the last 18 months by the Covid-19 pandemic and resulting market conditions. The support from the Yukon government and the leadership of the Selkirk First Nation, on whose ground Minto is located, have played an important part in ensuring the success of Minto.
"The strong support of all the shareholders in Minto and the commitment of the Minto team operating the mine have ensured that today Minto is in a position to pay the first part of the deferred purchase price. I have every confidence that we are now on a secure path of growth and more successes for our investment in Minto."
Current stock price: 5.42 pence
Year-to-date change: up 7.4%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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