Pembridge Resources (LON:PERE) said Thursday it was buying Capstone Mining’s (TSX:CS) Minto copper-gold-silver mine in Canada’s Yukon for $37.5 million in cash plus a 9.9% stake in the company.
The miner, which last year moved from the AIM to LSE main board, said the acquisition makes of Pembridge a cash flow generating copper producer.
The London-based company said it plans to raise $50 million via an equity placement. The money will be used to fund the proposed acquisition and provide resource development and working capital, it said. Continue Reading →