TIDMRMM
RNS Number : 7188Z
Rambler Metals & Mining PLC
19 December 2017
19 December 2017
Rambler Hits Record Throughput as it
Delivers its Phase II Transition to 1,250 mtpd.
London, England - Newfoundland and Labrador, Canada - Rambler
Metals and Mining plc (TSXV: RAB, AIM: RMM) ("Rambler" or "the
Company"), a copper and gold producer, explorer, and developer is
pleased to announced that for the month of November 2017 it
processed 33,870 tonnes of ore from the Ming Mine through the
Nugget Pond mill, averaging 1,221 metric tonnes per day ("mtpd")
during operational hours. November's performance represents record
monthly throughput for the operation.
November 2017 Production Summary
-- During November, the Nugget Pond copper and gold milling
facility achieved record throughput. The facility processed 33,870
dry metric tonnes ('dmt') at a feed grade of 1.19% copper and 0.75
g/t gold, averaging 1,221 mtpd during operational hours, including
17 days running at an average of 1,260 mtpd.
-- At the mine, ore delivered to surface averaged 1,140 mtpd
during the month, with several underground development headings
nearing key production areas. The operation plans to produce an
average of 1,125 mtpd during December and January as it completes
the final upgrades to the ventilation system, which will in turn
allow for increased activity and faster clearing times in the
mine.
-- Recovery of metal to concentrate was in line with
expectations and guidance returning 96.4% and 61.2% for copper and
gold respectively. Production of concentrate was 1,376 dmt
containing saleable metal of 374 tonnes of copper and 449 ounces of
gold.
-- Targeting record mill throughput in Q4 reaching 100,000 dmt
of ore delivering approximately 2.4M pounds of saleable copper and
1,375 ounces of salable gold.
Norman Williams, President and CEO, commented:
"There has been a significant amount of work completed at the
Ming Mine and Nugget Pond mill following the expansion financing
completed in June, 2016. While mine development itself was
initially slower than anticipated, the team has been successful in
improving its performance in a short period of time and is now
operating at nearly double its previous throughput rate of 650
mtpd. We are now turning our attention to increasing the grade of
mill feed while maintaining the 1,250 mtpd rate. On behalf of
myself, and the entire Board of Directors, we would like to thank
the operations team for their tremendous effort and dedication in
making this Phase II transformation a reality.
"While we are nearing a significant milestone for the Company,
this marks just the beginning of the next phase of growth for
Rambler. This deposit has the ability to sustain a high throughput
over a long mine life, currently 20 years. In addition, our recent
surface exploration program has confirmed our understanding that
the grades and thickness of the LFZ mineralization continue to
improve at depth. We are excited about the opportunities and
potential of this deposit and look forward to further engineering
studies demonstrating the viability of a 2,000 mptd production
profile."
Larry Pilgrim, P.Geo., is the Qualified Person responsible for
the technical content of this release and has reviewed and approved
it accordingly. Mr. Pilgrim is an independent consultant contracted
by Rambler Metals and Mining Canada Limited. Tonnes referenced are
dry metric tonnes unless otherwise indicated.
Note 1: Results reported are accurate and reflective as of the
date of release. The Company performs regular auditing and
reconciliation reviews on its mining and milling processes as well
as stockpile inventories, following which past results may be
adjusted to reflect any changes.
Neither TSX Venture Exchange nor its Regulation Service Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the
publication of this announcement via Regulatory Information Service
('RIS'), this inside information is now considered to be in the
public domain.
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development company that in November
2012 brought its first mine into commercial production. Rambler has
a 100 per cent ownership in the Ming Copper-Gold Mine, a fully
operational base and precious metals processing facility and year
round bulk storage and shipping facility; all located on the Baie
Verte peninsula, Newfoundland and Labrador, Canada.
Rambler's ongoing Phase II plans are to sustain mine and mill
production at 1,250 mtpd in 2018. This initial expansion has been
fully funded through CEII's investment. Rambler will also continue
advancing Phase III engineering studies with a view to further
increase production to 2,000 mtpd at the Ming Mine.
Along with the Ming Mine, Rambler also owns 100 per cent of the
former producing Little Deer/ Whales Back copper mines and has
strategic investment in the former producing Hammerdown gold
mine.
Rambler is dual listed in London under AIM:RMM and in Canada
under TSX-V:RAB.
For further information, please contact:
Norman Williams, Peter Mercer
CPA,CA Vice President, Corporate
President and CEO Secretary
Rambler Metals & Rambler Metals & Mining
Mining Plc Plc
Tel No: 709-800-1929 Tel No: +44 (0) 20
Fax No: 709-800-1921 8652-2700
Fax No: +44 (0) 20
8652-2719
Nominated Advisor Investor Relations
(NOMAD)
David Porter Nicole Marchand Investor
Cantor Fitzgerald Relations
Europe Tel No: 416- 428-3533
Tel No: +44 (0) Nicole@nm-ir.com
20 7894 7000
Website: www.ramblermines.com
Caution Regarding Forward Looking Statements:
Certain information included in this press release, including
information relating to future financial or operating performance
and other statements that express the expectations of management or
estimates of future performance constitute "forward-looking
statements". Such forward-looking statements include, without
limitation, statements regarding copper, gold and silver forecasts,
the financial strength of the Company, estimates regarding timing
of future development and production and statements concerning
possible expansion opportunities for the Company. Where the Company
expresses or implies an expectation or belief as to future events
or results, such expectation or belief are based on assumptions
made in good faith and believed to have a reasonable basis. Such
assumptions include, without limitation, the price of and
anticipated costs of recovery of, copper concentrate, gold and
silver, the presence of and continuity of such minerals at modeled
grades and values, the capacities of various machinery and
equipment, the availability of personnel, machinery and equipment
at estimated prices, mineral recovery rates, and others. However,
forward-looking statements are subject to risks, uncertainties and
other factors, which could cause actual results to differ
materially from future results expressed, projected or implied by
such forward-looking statements. Such risks include, but are not
limited to, interpretation and implications of drilling and
geophysical results; estimates regarding timing of future capital
expenditures and costs towards profitable commercial operations.
Other factors that could cause actual results, developments or
events to differ materially from those anticipated include, among
others, increases/decreases in production; volatility in metals
prices and demand; currency fluctuations; cash operating margins;
cash operating cost per pound sold; costs per ton of ore; variances
in ore grade or recovery rates from those assumed in mining plans;
reserves and/or resources; the ability to successfully integrate
acquired assets; operational risks inherent in mining or
development activities and legislative factors relating to prices,
taxes, royalties, land use, title and permits, importing and
exporting of minerals and environmental protection. Accordingly,
undue reliance should not be placed on forward-looking statements
and the forward-looking statements contained in this press release
are expressly qualified in their entirety by this cautionary
statement. The forward-looking statements contained herein are made
as at the date hereof and the Company does not undertake any
obligation to update publicly or revise any such forward-looking
statements or any forward-looking statements contained in any other
documents whether as a result of new information, future events or
otherwise, except as required under applicable security law
This information is provided by RNS
The company news service from the London Stock Exchange
END
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