Pembridge Resources PLC (LSE:PERE) (Pembridge Resources PLC (LSE:PERE)) Gati Al-Jebouri joins Proactive London's Katie Pilbeam to talk about the rationale behind their £400,000 raise through a placing and convertible loan to tide it over until cash starts to come through from the Minto mine in Canada.
Minto, which was recently demerged and listed in Toronto, is scheduled to repay C$4mln of advances made previously by Pembridge, which also retains an 11.2% economic interest in the project.
The first payment of C$1mln from Minto is expected at the end of the first quarter of 2022.