Pembridge Resources - Minto Receives First Revenue
THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Minto Receives First Revenue
· 1,734 dry metric tonnes of concentrate was produced during
· First Revenue received by Minto of
· Sales includes content for copper, gold and silver in concentrate
· Revenue from future provisional payments will continue to be received monthly per the terms of the Offtake Agreement
Under the terms of the Offtake Agreement, an Advanced Payment has been made by Sumitomo to Minto for 90% of the estimated value of concentrate produced at the Minto mine during the month of
In addition to the copper revenue, the Advance Payment includes precious metals credits and therefore Minto will receive 90% of the revenue from the copper, gold and silver due under the terms of the Offtake Agreement.
"We expect Minto's revenue to grow steadily as Minto progresses through its ramps up phase. The Offtake Agreement with Sumitomo is an important element in supporting Minto's operations during this time. We thank Sumitomo for their support and the strong partnership between our two companies will be the basis for the future development of Minto."
The person who arranged for the release of this announcement on behalf of the Company was
NOTES TO EDITORS
Pembridge is a mining company that is currently suspended from listing on the standard segment of the Official List of the
Minto operates the underground copper-gold-silver mine located in central
Gati Al-Jebouri, Chief Executive Officer and Chairman of the Board
Paul Fenby, Chief Financial Officer
Thomas Horton, Vice President Corporate Development
This information is provided by RNS, the news service of the
Quick facts: Pembridge Resources PLC
Market Cap: £2.42 m
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