Pembridge Resources plc Minto Operation Update for Q2 2020 (4143T)
20 Julho 2020 - 3:00AM
UK Regulatory
TIDMPERE
RNS Number : 4143T
Pembridge Resources plc
20 July 2020
20 July 2020
Minto Operation Update for Q2 2020
London, United Kingdom - Pembridge Resources plc (LSE: PERE)
("Pembridge" or the "Company") is pleased to announce the result of
the Minto mine's operations for the second quarter of 2020.
Highlights
-- 6,820 wet metric tonnes (Q1: 6,975 wet metric tonnes) of
concentrate was produced during the second quarter of 2020
-- Payments of US$9.8m received by Minto from Sumitomo (Q1:
US$18.7m, of which US$5.4m related to December 2019 production)
-- Pricing of 90% of the cargo shipped to Japan in April 2020 is
now fixed at $2.657 per pound for copper, thus ensuring that all
cash advances received already from Sumitomo during 2019 and Q1
2020 and relating to the April cargo shipment are fully covered by
the final revenue to be received for the cargo
-- Next shipment to Japan is planned before the end of Q3 2020,
based on current production levels
Gati Al-Jebouri, Chief Executive Officer and Chairman of the
Board of Pembridge said:
"I am pleased that Minto's team has managed to maintain
operations and production during Q2 in line with Q1 production.
Minto has managed effectively the difficulties arising from the
Covid 19 virus and is set to grow its operations in the second half
of this year, as the world economy starts to recover. Although the
quarantine restrictions have affected operations, they are a
necessary measure that should enable the mine to continue operating
safely as long as Yukon Government regulations permit this and the
safety of all staff working at the mine is not compromised."
ENDS
NOTES TO EDITORS
About Pembridge Resources plc
Pembridge is a mining company that is listed on the standard
segment of the Official List of the FCA and trading on the main
market for listed securities of London Stock Exchange plc.
Pembridge has an investment in Minto Explorations Ltd, a British
Columbia incorporated business operating the Minto mine in Yukon,
Canada.
About Minto Explorations Limited
Minto operates the underground copper-gold-silver mine located
in central Yukon, approximately 240 kilometres north of the capital
Whitehorse along the Klondike Highway. In excess of US$350 million
of capital expenditure has been invested into Minto operations
since site construction began in 2006. The Minto mine was in
continuous production between 2007 and 2018, when the mine was
placed onto temporary care and maintenance. Pembridge acquired
Minto from Capstone Mining Corporation in June 2019 and restarted
operations in October 2019.
Enquiries:
Pembridge Resources plc: +44 (0) 20 7917 2968
Gati Al-Jebouri, Chief Executive Officer and Chairman of the
Board
David James, Chief Financial Officer
Brandon Hill Capital - United Kingdom: +44 (0)20 3463 5016
Jonathan Evans
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDSFWFUUESSEFW
(END) Dow Jones Newswires
July 20, 2020 02:00 ET (06:00 GMT)
Pembridge Resources (LSE:PERE)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Pembridge Resources (LSE:PERE)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024