Business Update - COVID-19 Pandemic

RNS Number : 7546H

Pembridge Resources plc

26 March 2020

 

Pembridge Resources PLC

("Pembridge Resources plc" or the "Company")

Business Update - COVID-19 Pandemic 

London, United Kingdom - Pembridge Resources plc (LSE: PERE) provides a shareholder update on the actions being taken by the Company to minimise the impact of the COVID-19 virus on its business activities as well as the steps taken onsite at the Minto copper-gold-silver operating mine located in central Yukon, approximately 240 kilometres north of the capital Whitehorse.

As of 25 March 2020, there are 3 cases of COVID-19 in the Yukon and no cases at the Minto mine.  The safety of our staff, their families, our customers and partners are of paramount importance to Pembridge Resources and Minto Explorations in these uncertain times.

Minto Explorations staff's health and safety is a priority and Minto mine management continue to follow government recommendations and guidance with regard to the COVID-19 situation across Canada. Minto mine management have however elected to take additional steps to further safeguard all those currently at site and involved in operations, some of which include:

· All non-essential travel to site for employees, contractors, visitors or vendors has been postponed or cancelled.

· At the mine, the practice of social distancing has been adopted, given its impact on stopping and slowing the spread of the COVID-19.  Enhanced cleaning schedules have also been implemented, which will ensure regular cleaning and sanitising of communal areas and of specific items which are commonly handled.

· A response team with key Minto leadership has been implemented and convenes daily to assess new government recommendations, determine next steps, if any, and provide employees and local partners with updates. In addition Minto continues to hold daily briefings with their medical directors, neighbouring mines and partners to assess the current global health situation and the rapidly evolving circumstances surrounding the spread of COVID-19

The London office of the Company has been closed in accordance with UK Government recommendations and all staff are working remotely from their homes.

Gati Al-Jebouri, Chief Executive Officer and Chairman of the Board said:

"The c urrent extremely difficult and challenging times for all mean that we must carry out our duty to reduce the risk of any of our staff being infected with the virus or putting other people at risk.  We will continue to monitor the situation and adhere to all government recommendations and instructions.  In due course more detailed information shall be provided including the first quarter operations update."

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NOTES TO EDITORS

About Pembridge Resources plc

Pembridge is a mining company that is listed on the standard segment of the Official List of the FCA and trading on the main market for listed securities of London Stock Exchange plc. Minto, a subsidiary of Pembridge, is a British Columbia incorporated business operating the Minto mine in Yukon, Canada. Pembridge owns 33% (in Class A shares) of Minto.

About Minto Explorations Limited

Minto operates the underground copper-gold-silver mine located in central Yukon, approximately 240 kilometres north of the capital Whitehorse along the Klondike Highway. In excess of US$350 million of capital expenditure has been invested into Minto operations since site construction began in 2006. The Minto mine was in continuous production between 2007 and 2018, when the mine was placed onto temporary care and maintenance. Pembridge acquired Minto from Capstone Mining Corporation in June 2019 and restarted operations in October 2019.

 

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