Pembridge Resources jumps by a third after positive Minto mine report
A look at the major movers on the London market on Wednesday
Shares in Pembridge Resources PLC (LON:PERE) have soared after a positive update on the Minto mine in the Yukon, Canada.
A report by JDS Engineering on the copper, gold and silver mine - where Pembridge has an investment in the operator - indicated its expected life had doubled to 8 years.
Total resources have been increased from 22.5mln tonnes to 24,1mln tonnes, with average annual production of 38mln pounds of copper. Average annual earnings are expected to exceed US$40mln from 2021 to 2025.