Pembridge buys producing copper mine from Capstone

LSE-listed Pembridge Resources is set to be transformed into a cash flow generating copper producer with the acquisition of the Minto openpit copper/gold/silver mine in Yukon, Canada. Pembridge, which August last year moved from the Aim to LSE main board, on Thursday announced that it had signed a share purchase agreement with Canada’s Capstone Mining in terms of which it would buy Minto Explorations for $37.5-million in cash and common shares representing 9.9% of the issued and outstanding shares of the company.