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Pembridge Resources acquires producing copper mine in 'transformational' deal

David Linsley, chief executive of Pembridge Resources plc (LON:PERE), tells Proactive's Andrew Scott they're set to become a cash flow generating copper producer with the acquisition of Yukon-based Minto Explorations.

Currently an acquisition vehicle or SPAC, Pembridge will pay US$37.5mln in cash to vendor Capstone Mining plus shares equivalent to a 9.9% stake in the enlarged company.

Pembridge will then raise a further US$50mln to refinance the company and re-start exploration.

Quick facts: Pembridge Resources

Price: 1.275 GBX

LSE:PERE
Market: LSE
Market Cap: £2.85 m
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Pembridge Resources CEO expects Minto revenue to grow steadily

Proactive sits down with Pembridge Resources PLC's (LON:PERE) new CEO and chairman Gati Al-Jebouri. Operations have recently re-started to get its Minto mine back into production. First concentrate of copper was produced in early October and revenues of US$3.4m have subsequently been...

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