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Pembridge Resources shares jump as chief executive ups stake

Shares rose 8% to 13.5p as Gati Al-Jebouri bought 318,000 shares

Pembridge Resources PLC -
The Minto mine

Pembridge Resources PLC (LON:PERE) chief executive and chairman Gati Al-Jebouri has increased his stake in the Canada-focused miner to 19.1% following the acquisition of around 318,600 shares.

Al-Jebouri said: "This addition to my shareholding reflects not only my confidence in the long-term prospects of Pembridge Resources plc and the Minto mine but also my belief of a continuing disconnect between current share price and the inherent value already within Pembridge.

"Given the number of positive developments that have materialised since the company's shares were readmitted to trading last year, I have taken the opportunity that has arisen to purchase shares below the issue price of our latest capital raise."

Al-Jebouri made the purchases on the open market to take his holding to approximately 13.1mln shares.

Pembridge restarted the Minto copper-silver-gold mine in Yukon last year and will use cashflow produced from operations to explore the surrounding area and look for new investment opportunities.

Shares rose 8% to 13.5p.

Quick facts: Pembridge Resources PLC

Price: 5.6 GBX

Market: LSE
Market Cap: £4.31 m

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on 26/10/20

2 min read