David Linsley, chief executive of Pembridge Resources plc (LON:PERE), tells Proactive's Andrew Scott they're set to become a cash flow generating copper producer with the acquisition of Yukon-based Minto Explorations.
Currently an acquisition vehicle or SPAC, Pembridge will pay US$37.5mln in cash to vendor Capstone Mining plus shares equivalent to a 9.9% stake in the enlarged company.
Pembridge will then raise a further US$50mln to refinance the company and re-start exploration.
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