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The SFN community of circa 680 are based in Pelly Crossing, 35 kilometres from the Minto mine, on the otherside of the Yukon River. SFN have been a self-government since 1997 and a valuable stakeholder in the Minto operations, both during exploration and production, which commenced in 2007.
The SFN community of circa 680 are based in Pelly Crossing, 35 kilometres from the Minto Mine, on the otherside of the Yukon River. SFN have been a self-government since 1997 and a valuable stakeholder in the Minto operations, both during exploration and production, which commenced in 2007.
A Chief and Council are elected every three years and have the responsibility for the management of their settlement land, as well as SFN interests and affairs.
The Minto mine lies within the 4,740 square kilometres of traditional territory of the SFN, and falls within Category A Settlement Land under the Selkirk Land Claims Agreement of 1997.
Under the Selkirk Land Claims Agreement of 1997, Selkirk own the mineral and surface rights, however the agreement specifically grandfathers the mineral and other rights held by Minto. In 1997, Minto and the SFN signed a Co-operation Agreement which, among other things, granted the SFN a net smelter return royalty on all production from the Minto Mine. The Co-operation Agreement was amended 12 years later, in 2009.
As the new owner of Minto, Pembridge Resources is committed to building and maintaining a strong, productive and respectful relationship with the SFN. This is to ensure that both the SFN and Pembridge Resources are able to continue sharing the benefits of the Minto Mine for many years to come, and that the operations are conducted to a high environmental standard. Minto engages in various initiatives with the local communities of the mine, most notably that of the Selkirk First Nation (SFN), based in nearby Pelly Crossing.
Many members of the Pelly Crossing community have worked either for the Minto mine, or for many of the external services contracted by the mine. Minto will continue to actively encourage employment of the SFN at the mine as it goes through its next phase of growth.
In addition, every year Minto offers three graduating students from the high school in Pelly Crossing a bursary. At Christmas, the staff at the mine distribute more than 150 turkeys to every home in the community of Pelly Crossing for the holiday season - a tradition it has upheld ever since the mine has been in production.
The Minto Mine also donates a portion of its revenue to various community organizations, such as the Yukon Geoscience Forum, Special Olympics Yukon and the Selkirk Senior Men's team at the annual Yukon Native Hockey Tournament.
Pembridge Resources plc recognises the importance of, and is committed to, high standards of Corporate Governance. At the date of this Report, and whilst the Company is not formally required to comply with the UK Corporate Governance Code, the Company will try to observe, where practical, the requirements of the UK Corporate Governance Code. The UK Corporate Governance Code can be found at frc.org.uk/our-work/publications/Corporate-Governance.
The Group will comply with the QCA Code, as published by the Quoted Companies Alliance, to the extent they consider appropriate in light of the Group’s size, stage of development and resources.
The Group is currently a small company with a modest resource base. The Group has a clear mandate to optimise the allocation of limited resources to support its development plans. As such, the Group strives to maintain a balance between conservation of limited resources and maintaining robust corporate governance practices. As the Group evolves, the Board is committed to enhancing the Group’s corporate governance policies and practices deemed appropriate for the size and maturity of the organisation.