StockMarketWire.com - Pembridge Resources said the Minto copper-gold mine operation in Canada had received a $18.7m payment from Sumitomo in the first quarter, though its output fell.

Of the payment, $5.4m related to December 2019 production.

Output in the three months through March was 6,975 wet metric tonnes, down from 7,167 wet metric tonnes in the final quarter of 2019.

'These results are encouraging in the context of severe winter conditions and the impact of the COVID-19 virus on both the copper price and staff movements,' chief executive Gati Al-Jebouri said.

'Although the quarantine restrictions are affecting operations, they are a necessary measure that should enable the mine to continue operating safely as long as Yukon government regulations permit this and the safety of all staff working at the mine is not compromised.'


At 9:06am: [LON:PERE] Pembridge Resources Plc share price was +0.13p at 3.25p



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