StockMarketWire.com - Mining group Pembridge Resources has received a 90% provisional payment of $5.4m for the copper concentrate produced in December 2019.

Sumitomo Canada Limited paid the sum for concentrate produced in the last month of 2019. Some 2,919 dry metric tonnes were produced in December, of which 2,680 dry metric tonnes were attributed to the aforementioned payment.

"This payment, for production in December 2019, brings total payments received to $12.5m since Minto recommenced production in October,” said Gati Al-Jebouri, chief executive officer and chairman of Pembridge.

“The December payment was a significant improvement on last month's due to the head grade improvements in the Minto East mining area, as announced 09 January 2020, as well as a stronger copper and gold price.”

The company said that disclosures on monthly production data will now be made on a quarterly basis from this point forward.


At 9:14am: [LON:PERE] Pembridge Resources Plc share price was +0.25p at 15p



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