Pembridge Resources Share Discussion Threads

[farrugia] 28/10/2023 18:28

amazing how quickly the directors here moved to shut the Pembridge Resources like it never existed. Website went offline almost immediately.

[farrugia] 14/7/2023 07:26

Further unlocking of shareholders value

$42.2M in liens filed against abandoned Minto mine: Yukon mines department

[farrugia] 12/6/2023 15:51

The unlocking of value continues. NOT. All investors here have been practically scammed. The directors of Minto just abandoned ship and left shareholders holding the bag.

[farrugia] 07/6/2023 11:39

never touch companies owned by this charlatan.

[farrugia] 20/5/2023 06:35

Shareholders seem wiped out for good here.

At least the self-serving charlatan Gati Al-Jebouri also seems to have lost money.

They screwed both employees and shareholders and should never be trusted again. You don't abandon your posts like that. Zero accountability. Such disrespect to the shareholders and employees that trusted you!

Canuel received his final paycheck Friday morning, but said he's unsure he'll get a bonus he was expecting before the mine folded. He said his last payment was a quarter of what he expected, as a result.

"They kind of screwed us with the bonus," he said. "We're supposed to get our bonus pay on Monday. And that's what I pay my kid's tuition with."

A letter Minto sent to employees says the company is unable to pay severance and employees should apply for compensation through the federal Wage Earner Protection Program. But workers who spoke with CBC, including Canuel, said they've had trouble applying.

Workers were also told Minto is now in receivership, but they said the number they've been given to access money from that receiver isn't working. CBC has been unable to identify the receiver.

[farrugia] 18/5/2023 13:45

someone on linkedin:

Last Friday was the hardest day of my career to date. Myself along with 200 colleagues were informed our mine was being put into care and maintenance and that as of 4pm we were unemployed. I can’t say I’m completely surprised as there were many challenges leading to to this, but I was disappointed, frustrated and sad. The Minto family was like no other and despite the many challenges thrown our way, we persevered until now.

My heart breaks for everyone affected and although I know good things will come of this, I do not wish this feeling on anyone.

As I spent the weekend processing the 200 terminations and coordinating everyone’s travel offsite, I couldn’t help but reflect on a few things I learned over my journey at Minto.

1. Mining isn’t for the faint of heart - Our CEO Chris Stewart said this regularly. When we win, we win big. But the failures and struggles, those are big also.

2. The crew at Minto was truly family - as cliche as it is, but everyone put their heart and soul into this company. And as everyone scrambled to share their contact info, you just knew we weren’t ready to say goodbye.

3. No job is worth sacrificing your family time or health - I don’t even want to begin to think of how many extra hours, evenings and weekends I committed to this company over the last couple years. And although I can’t say I would do it any different as I’m loyal to a fault, I can confidently say it wasn’t worth it.

I am embracing the unknown of what the future holds and am confident it will all work out in the end.

I wish all my Minto family the best. Your hard work, dedication and commitment did not go unnoticed. Although this is goodbye for now, I truly hope our paths cross again one day!

And for those of my connections in the mining industry, there are a lot of great employees out of work! I will continue to share opportunities with each of them as I see them come up so please pass them my way! #opportunities #career #future #openforwork


Someone else:

The board of directors for Minto Metals, a mining company, has resigned following the company's decision to withdraw from the Yukon copper mine project. This move comes as the company decided to halt operations and put the Minto Mine on care and maintenance indefinitely. The resignations of the board members raise questions about the reasons behind their departure and potential disagreements regarding the mine closure. The closure of the Minto Mine is expected to have an impact on jobs and the local economy, as the mine employed around 200 workers and had significant economic contributions to the region.

More info:

[terminator101] 18/5/2023 08:17

Terminated

[eezymunny] 18/5/2023 07:42

They think it's all over...

[farrugia] 17/5/2023 20:27

i'm afraid this is as dead as a dead duck.

[mrmark1] 17/5/2023 14:39

Squeeze! Gati holds 22% and £5m in the company, PERE owed $2m and Minto can raise finance with Copper rising, plus new discoveries made not so long ago

[farrugia] 16/5/2023 18:52

it seems mines in canada/usa are a losing proposition

[pwhite73] 16/5/2023 17:15

PERE will have a legal claim against the Yukon government. It does seem to me they're using the cost of environmental issues to force Minto off the mine.

[tomboyb] 16/5/2023 16:01

Pwhite -

Completely agree on the copper statement -

Next few years will be all about Energy / Green energy and commodities -

To me however, looks like the end is here for PERE -

[farrugia] 16/5/2023 15:57

wow just wow

[pwhite73] 16/5/2023 15:56

These looks like protest resignations to me. They have clearly fallen out with the Yukon government. Mining operations will restart. Copper is extremely valuable in the new electric vehicle market.

[soulsauce] 16/5/2023 15:54

And you only have Gati to blame. He had ample time to bring in more projects but failed abysmally.

[tomboyb] 16/5/2023 15:48

PERE looks completely finished -

[farrugia] 16/5/2023 08:23

In April, Yukon Minister of Energy, Mines and Resources John Streicker directed Minto Metals to begin transferring water into one of the previously mined open pits if the available storage capacity in the tailings management facility drops below 300,000 cubic meters, which is about 79.25 million gallons.

The governmental directive was issued to both mitigate potential short-term environmental risks and ensure longer-term operations at Minto.

The added costs and potential operational disruptions associated with the directive was the final straw for Minto Metals, which was already having difficulties paying back loans made by its parent company, London-based Pembridge Resources PLC.

JDS Mining, a contract miner familiar with Minto and experienced with mine site care and maintenance in the Yukon, has been mobilized to continue with water treatment and management to ensure the environment remains protected.

"We are working closely with the contractor and the Selkirk First Nation to ensure that the environment remains protected at all times," said Streicker. "Swift action will support the continuity of environmental protection at the site."

The Yukon government is utilizing financial security for the Minto mine to pay JDS Mining for care and maintenance of the site until the end of June, with the option to extend as needed.

even more info here


seems like minto still owns the mine and is still ultimately responsible for it.

[laptop15] 15/5/2023 13:47

Does it own anything else?? Or just part of minto

[farrugia] 15/5/2023 13:36

bozzy this was mainly a copper miner, not a gold one. They used those agreement to get Wheaton to pay them an amount in advance.

[bozzy_s] 15/5/2023 12:50

3 minutes of research would've stopped most people investing in PERE. Find Minto's TSX-V quote, and click the last production update for Q1 2023 -

"Under the Wheaton Precious Metals agreement, the Company receives 65% of the adjusted Gold price up to a maximum of US$1,250 for 2 years and then 50% up to a maximum of US$1,000 thereafter. (12 Months remaining on initial term) Silver receipts are at the lesser of the prevailing market price and US $4.35/oz with 1% annual escalator."

That single paragraph should've been a huuuuuuuuuuge red flag.

Sorry for anyone who lost badly here.

[jameshendrix2023] 15/5/2023 12:04

Delist coming and cancellation Dnt listen to these ramps

[farrugia] 15/5/2023 11:33

i doubt Al-Jebouri (Gati) will end up losing money here. He'll take it private - wiping out shareholders in the process and then wait until the Minto operation is sold. The Minto Metals situation is not looking pretty but the mine must still have some value?