Pembridge Resources PLC (LON:PERE) announced a strong start to the year with improved quarterly production and record offtake sales from the Minto copper-gold-silver mine in the Yukon territory.
Minto produced 7,023 wet metric tonnes of concentrate in the first quarter of 2021, up from 5,143 wet metric tonnes in the fourth quarter of 2020.
"We are pleased to see the improved output from the Minto mine, with a quarterly production of concentrate higher than that achieved in any quarter of 2020,” said Gati Al-Jebouri, Pembridge chief executive and chairman.
“With this improved production combined with the strong copper price, the mine has also received larger payments for its production than in any previous quarter.”
Minto received payments of US$20.8mln (£15.1mln) from Sumitomo Corp, compared to US$17.5 mln in the preceding quarter, and locked in a sale price of 90% of production up to 1 March at US$4.07 per pound
Pembridge has an investment in Minto Explorations Ltd, operator of the Minto underground mine in northwest Canada.