JOHANNESBURG (miningweekly.com) – Mining-focused special purpose acquisition company Pembridge Resources has stepped up its due diligence on a number of potential targets, with the aim of announcing an inaugural transaction by the end of the year.
The company, which in August moved from the Aim to LSE main board, is looking for investments in mining projects across the base and precious metals sector. Its focus is on the Americas, Europe and sub-Saharan Africa.
“Since the commencement of trading on the standard segment of the official list, our team has stepped up the due diligence process on a number of potential targets that fit within our investment strategy. We see these targets as projects that we can successfully execute in a timely manner and leverage our team's expertise to add considerable value,” said CEO David Linsley.
At the end of June 2017, Pembridge had $0.37-million in cash reserves. The listing on the LSE in August, raised £2.27-million before expenses through the issue of 142-million new ordinary shares.