Brake Pad Warning Light

Ref. Peugeot 205 1.6 GTI (F reg)
At the top left of the speedometer is a round orange light which I think indicates the wear on the front brake pads.
On occasions, this light flashes, but usually it is off.
I am considering waiting for the light to activate and stay activated before seeing a mechanic. Is this wise?
When this light flashes on occasions, but is usually off, how many further miles are the pads serviceable?
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