(Alliance News) - Pembridge Resources PLC on Wednesday said Minto Explorations Ltd Minto has received a 90% provisional payment for the copper concentrate produced during November.
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 1,794 dry metric tonnes of concentrate in November, which was then sold to Japan's Sumitomo Canada Ltd for USD3.7 million.
"It is the objective of Minto mine management, with the oversight from Pembridge, to ensure that production continues to grow while ensuring an efficient and cost-effective operation," said Pembridge Chief Executive & Chair Gati Al-Jebouri.
Pembridge shares are still suspended, as the Minto deal was considered a reverse takeover. They have been suspended since February 2018.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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