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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 PLC

Price: 3.25 GBX

LSE:PERE
Market: LSE
Market Cap: £2.42 m
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Pembridge Resources 'in a much stronger financial position' as it ships...

Pembridge Resources PLC's (LON:PERE) Gati Al-Jebouri caught up with Proactive London's Andrew Scott soon after announcing they've shipped its first consignment of copper since the re-start began. The copper left the port of Skagway bound for Sumitomo warehouses in Japan. He says despite...

on 30/4/20

2 min read