Announcement • May 25
Pembridge Resources plc, Annual General Meeting, Jun 12, 2023 Pembridge Resources plc, Annual General Meeting, Jun 12, 2023, at 09:00 Coordinated Universal Time. Location: 45 Gresham Street, London, EC2V 7BG London United Kingdom Announcement • Nov 19
Pembridge Resources plc announced that it has received £4.673773 million in funding Pembridge Resources plc announced that it has closed loan agreement for gross proceeds of up to £4,673,773 on November 18, 2022. The convertible loan carry a interest rate of 14%, repayable by 31 December 2025. The loan notes may be converted into ordinary shares. The transaction will include participation from returning investor Gati Al-Jebouri, CEO and Chairman. The transaction is approved by the board of directors of the company. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Chairman, MD & CEO Gati Al-Jebouri was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Chairman, MD & CEO Gati Al-Jebouri was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 19
Pembridge Resources plc announced that it has received £0.08 million in funding Pembridge Resources plc announced that it has issued convertible loan and received gross proceeds of £80,000 on December 17, 2021. The transaction included participation from Gati Al-Jebouri, chief executive officer of the company. The loan doesn't carry any interest rate and is to be converted to common shares at an exercise price of £0.05 on or shortly after May 17, 2022. Board Change • Dec 05
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Chairman, MD & CEO Gati Al-Jebouri was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Director Overboarding • Aug 18
Director Guy Le Bel has joined 3rd company board Guy Le Bel has been appointed to the board of Aquila Resources Inc. (TSX:AQA). Le Bel now sits on a total of 3 company boards. With 3 board positions including the role of CEO at Aquila Resources Inc. (TSX:AQA), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Announcement • Jun 04
Pembridge Resources plc announced that it has received $3 million in funding On June 3, 2021, Pembridge Resources plc (LSE:PERE) closed the transcation. The company issued 300 convertible loan notes for gross proceeds of $3,000,000. The transaction included participation from Gati Al-Jebouri, CEO and Chairman for $500,000. Announcement • May 13
Pembridge Resources plc Announces Key Results from Minto Exploration Ltd. Ni 43-101 Preliminary Economic Assessment Technical Report and the Resulting Estimate of Minto's Mine Life and Net Present Value Pembridge Resources plc announced the key results from Minto Exploration Ltd. NI 43-101 Preliminary Economic Assessment Technical Report and the resulting estimate of Minto's mine life and Net Present Value. In February 2021, JDS Engineering & Mining Inc. was commissioned by Minto to prepare a Technical Report, which updates the results of the Competent Person's Report commissioned by Pembridge and delivered in June 2019 with mineral deposits assessment as at 31 May 2019. Total Resources have been increased from 22,554 kt1 (including 1,4171 kt of Reserves) to 24,105 kt with a resulting change in Cu Metal Resources from 7122 Mlbs (including 602 Mlbs of Reserves) to 727 Mlbs; Au Metal Resources from 394 koz (including 312 koz of Reserves) to 396 koz; Ag Metal Reserves and Resources from 3,5522 koz (including 3032 koz of Reserves) to 3,947 koz. The Resources modelled in the Technical Report were based on an 8 year mine life. Given the utilisation of only 45% of the total Resources in the projected 8 year mine life and the fact that inferred resources lack sufficient drilling and mine planning and the significant unexplored areas within the Minto claim package, management expects to increase the life of mine to over 15 years, subject to successful results of such drilling and applicable mine planning. Economic model The Technical Report includes an economic model that has been developed by JDS using the following key assumptions: Long term copper price of USD 3.10/lb; gold price of USD 1,550/oz and silver price of USD 18.50/oz. Agreed upon terms for new amendment of streaming agreement with Wheaton Precious Metals Corp. for gold produced by Minto expected to be signed shortly. Long term USD to CAD exchange rate of 1.316. Ore quantities mined and grades for copper, gold and silver as per the latest mine plan developed as part of the Technical Report. NPV discount rate of 8%. The economic model presented in the Technical Report shows a NPV after Canadian taxes and royalties of USD 84 million and average annual EBITDA in excess of USD 40 million between 2021 and 2025 when applying the following price assumptions. Announcement • Feb 08
Pembridge Resources plc Announces Drilling Results at the Minto Mine Pembridge Resources plc has recently received drill results from the Minto Explorations Ltd. ("Minto") mine's 2019 - 2020 definition and step-out drilling campaign. Drilling was conducted on the Minto North II, Copper Keel South, Copper Keel West, and Copper Keel North areas. The interpretation of the results from the 2019-2020 drill programme strengthens the Company's vision to extend mine life and demonstrate the continuity of underground ore deposits. Minto is now working on a National Instrument 43-101 Preliminary Economic Assessment Report (PEA), which will incorporate the results from the 2019 - 2020 drilling campaign. The report is expected to be released in Second Quarter 2021. Minto is planning an exploration drill programme for 2021 with the objective of further expanding resources and advancing numerous high-priority near-mine and regional targets in the Minto Copper Belt. The Minto North II deposit is located southeast from the Minto North open pit. The Minto North ore body is the highest-grade deposit on the property and was mined out by open-pit in 2016, which made the Minto North II drill target a high-priority. The main purpose of the drill programme was to confirm the location of the ore body and its extent as there were only 10 historic drill holes drilled prior to the 2020 programme. The 2020 drill programme was completed on 25m to 30m drill spacing totaling 5,609 meters with 31 drill holes with NQ diameter. The phase I drill programme focused on the central portion of the ore body. Results of the phase I programme indicated that the Minto North II ore body is a flat-lying, shallow lens that lies about 175 metres below surface and approximately 90 metres to the east from the Minto North ore body. Due to the successful results of the phase I programme, the second phase was targeting the extension and definition of the ore body to the south and to the east based on information obtained from a high-resolution MAGTM drone survey in combination with a 3D inverted Titan 24 DC-IP geophysical survey. The phase II drilling results indicate that the Minto North II ore body extends to the south and is cut off by a major NNW-trending fault to the east. The Copper Keel South lens is located southwest from the Copper Keel Main mining area. The Copper Keel South deposit was drilled to test its extension towards the southwest due to its proximity to the Copper Keel Main lens, which accounts for most of the current production stopes at the mine. Surface drilling consisted of 15 drill holes in NQ diameter, totaling 3,816 metres. The 2020 drill programme confirmed that the Copper Keel South deposit is a northwest trending ore body that consists of multiple stacked lenses. The largest and upper most lens gently dips towards the east and extends back to the Copper Keel Main mining area, therefore it likely represents the upward western continuation of the Copper Keel Main ore body. The Copper Keel West lens lies west of the Copper Keel Main production area. A total of 5 NQ drill holes, totaling 2,211 metres were drilled targeting gaps of coverage in the ore lens. Five drill holes with a total of 2,211 metres were drilled. Due to difficult ground conditions and overburden this surface programme was shortened and substituted with an underground drilling programme which consisted of 2,618 metres and 12 diamond drill holes with NQ diameter to fill the gaps of coverage caused by the difficult drilling conditions on surface. An additional 2 condemnation drill holes (156m) were also completed from underground. The Copper Keel North deposit is located north of the Copper Keel Main mining area. A total of 11 drill holes, 4,848 metres of surface drilling was conducted on the Copper Keel North area with the aim to define and expand the lens towards the north. Due to the promising results of the surface programme, the focus of the underground drilling was to test the extension of the deposit to the north and to infill the gaps in the central portion of the lens. The programme consisted of 6 NQ drill holes, totaling 1,161 metres. While the underground assays are currently pending and will be communicated in a future news release, the results of the surface programme indicate that the Copper Keel North deposit lies to the north approximately 100 to 150 metres below the Copper Keel Main area. The Copper Keel North deposit is open to the north where have a highly prospective area that coincides with the right geophysical anomalies and will be tested during the 2021 drill programme. 