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Pembridge Resources announces appointments of new president and interim CFO for Minto Explorations


Pembridge Resources PLC (LON:PERE) has announced the appointments of a new president and interim CFO of Minto Explorations Ltd.

The group said the board of directors and the joint advisory committee (JAC) of Minto have appointed Christopher A. Stewart to the position of president as of January 13, 2021. They have also appointed Jack Cartmel to the position of interim CFO of Minto.

READ: Pembridge Resources issues production and payment update for the Minto copper mine

Minto’s new present, Stewart is a seasoned mining engineer with over 27 years of experience in the metals mining sector, having worked at McEwen Mining Inc., Kirkland Lake Gold, Liberty Mines Inc. and BHP Billiton during that time. He brings highly effective people management and team-building skills combined with a flexible leadership style that fosters employee engagement and empowerment while promoting a high-performance culture based on accountability.

Meanwhile, Cartmel was part of the management team working for Minto Management Ltd. that was engaged as operator by the firm under an agreement signed in early 2020. With the decision to bring in-house all the senior management positions and the termination of the operator agreement at the end of 2020, Cartmel has joined the Minto management team in the role of CFO.

The group noted that Cartmel has a very good understanding of the Minto finances and operations from his work with Minto over the last twelve months. He also has over 15 years of experience in the mining industry with expertise in M&A, securities offerings, public company accounting and disclosure, and financial and risk management. Prior to that, he worked as a senior auditor for BDO Canada LLP for 5 years in the public mining sector.

The Minto board and JAC said: “Mr Stewart is tasked to continue building on the operational efficiency of Minto, together with achieving challenging production and development targets. Mr Cartmel is tasked to continue strengthening the financial management function at Minto as he has been doing as part of the Operator during the last 12 months. The Board and the JAC will provide both Mr Stewart and Mr. Cartmel with full support to achieve the targets set and look forward to working with them in realising the intrinsic value of Minto.”

In a statement, Gati Al-Jebouri, chief executive officer and chairman of Pembridge commented: “The above appointments are the next steps in ensuring we have a very strong management team capable of executing all the tasks necessary to ensure the full value of Minto is realised.

“The appointments come at a time when the Covid 19 challenges have not fully subsided, however, it is clear that we must look forward to ensuring that Minto increases production rates and extracts maximum value during the period of higher copper prices, though higher efficiency of our operations and finances. I wish both Mr Stewart and Mr Cartmel all the success in their roles.”

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