Pembridge Resources PLC (LSE:PERE) said the value of its Pembridge’s 11.2% holding in Minto Metals is currently £14.1mln following its debut on the TSX Venture Exchange.
The market value of Minto Metals at the close on 30 November 2021 was C$213.85mln (£126mln).
Gati Al-Jebouri, Pembridge CEO and chairman said: "We are delighted to have reached the end of this multi-stage process that has led to the Minto mine becoming a publicly-traded company in its own right, having re-started its operations two years ago.
“Now that the Minto Metals shares are traded on TSXV, we hope that the market will quickly recognise the inherent value of Pembridge's holding in Minto Metals and the Minto operations generally."
Pembridge shares currently trade at 7.13p, valuing the business at under £7mln.