Pembridge Resources plc Minto Operation Update for Q4 2020 (3089L)
12 Janeiro 2021 - 4:00AM
UK Regulatory
TIDMPERE
RNS Number : 3089L
Pembridge Resources plc
12 January 2021
12 January 2021
Minto Operation Update for Q4 2020
London, United Kingdom - Pembridge Resources plc (LSE: PERE)
("Pembridge" or the "Company") is pleased to announce the result of
the Minto Explorations Ltd. ("Minto") mine's operations for the
fourth quarter of 2020.
Highlights
-- 5,143 wet metric tonnes of concentrate were produced during
the fourth quarter of 2020 (Q3: 5,707 wet metric tonnes).
-- Payments of US$17.5m received by Minto from Sumitomo during
the fourth quarter of 2020 (Q3: US$18.4m)
-- 24,646 wet metric tonnes of concentrate were produced during
2020 (2019: 7,167 wet metric tonnes).
-- Payments of US$64.3m received by Minto from Sumitomo during 2020 (2019: US$7.1m)
Gati Al-Jebouri, Chief Executive Officer and Chairman of the
Board of Pembridge said:
"This has been a quarter of continuing development at the Minto
mine, having started active production from the Copper Keel area
and development in Copper Keel West area. The lower volume of
concentrate produced in Q4 compared to Q3 was expected and is due
to the processing of slightly lower grade ore in Q4 (1.07%)
compared to Q3 (1.09%) which, as explained in the Q3 Operation
Update, is due to including the final commercially viable tonnes
from the Minto East ore body as well as the impact of start up
production from Copper Keel area. I am pleased to note that, for
the whole of 2020, Minto produced 24,646 wet metric tonnes of
concentrate and production is expected to be above this level for
2021."
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
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END
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