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Pembridge Resources CEO says focus moving to new investment opportunities, now operator to be appointed for Minto mine

Pembridge has been instrumental in getting Minto up and running again

Pembridge Resources Plc -

Pembridge Resources Plc (LON:PERE) is to appoint an operator for Minto Explorations Ltd, the company which runs the producing Minto mine in the Yukon.

This will allow Pembridge to focus on complementary activities, including evaluating new investment opportunities.

In line with this desire, the Minto board has passed a resolution to appoint the operator under a contract with Minto Exploration.

"Pembridge has worked hard to get the mine into production since it was acquired in June 2019,” said Gati Al-Jebouri, chief executive of Pembridge in a statement.

He added: “Pembridge has a three-phase development, the first phase being the strengthening of the finances and operations of Pembridge and Minto. It has become apparent that there are a number of inefficiencies associated with the time zone difference between the UK and Yukon

"Therefore, installing an operator for day-to-day support to Minto management not only aims to improve the efficiencies of operating Minto, but reduces the management costs attributable to Pembridge. This step completes phase one of our development strategy and allows Pembridge to concentrate on its next phase of growth.”

 

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Price: 3.25 GBX

LSE:PERE
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