Rambler Ships More High Grade Copper Concentrate
26,000 Wet Metric Tonnes Delivered to Date
LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR --
(Marketwired) -- 10/01/13 -- Rambler Metals and Mining plc (AIM:RMM)
(TSX VENTURE:RAB) ('Rambler' or the 'Company') today announces that
approximately 7,800 wet metric tonnes ('wmt') of copper concentrate
has been shipped to international markets from the Company's bulk
storage facility in Goodyear's Cove, NL Canada. The Company's own
sampling estimates an average grade of 30 per cent copper, 6.5
grammes per tonne gold and 30 grammes per tonne silver.
This is the fourth shipment as part of the off-take agreement with
Transamine Trading SA ('Transamine') and brings the total to
approximately 26,000 wmt since first concentrate production in late
Since the last shipment in May 2013, the Company has been optimizing
production through the Nugget Pond milling facility with copper
recovery over the past two months averaging 95 per cent, with an
average run of mine head grade of approximately 3.85 per cent copper.
During this same period 83 wmt of copper concentrate (21 tonnes of
contained copper metal) was produced per day with some peak days of
over 100 wmt of concentrate.
Following the shipment the Company still has over 1,300 wmt of
concentrate in storage at its Goodyear's Cove Storage Facility.
George Ogilvie, President and CEO of Rambler, commented:
"I am pleased to report that the Company continues to make good
quality concentrate while overall copper recovery is exceeding
forecasted levels. We have now supplied 26,000 wmt of copper
concentrate which is 30 per cent of our original commitment to supply
85,000 wmt, after only 16 months of production, including a five
month commissioning and ramp up period. We are now producing in
excess of 2,000 wmt of copper concentrate on a monthly basis with
August and September being 2,388 wmt and 2,484 wmt respectively."
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development Company that in 2012 brought its
first mine into commercial production. The group 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.
The Company's Vision is to be Atlantic Canada's leading mine operator
and resource developer through the expansion of the Ming Mine,
discovering new deposits and through mergers and acquisitions.
Rambler listed on the London AIM in 2005 and Toronto TSX-V in 2007.
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.
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.
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 law.
Rambler Metals and Mining
George Ogilvie, P.Eng.
President and CEO
709-800-1929 or 709-800-1921
Rambler Metals & Mining Plc
+44 (0) 20 8652-2700
+44 (0) 20 8652-2719 (FAX)
Cantor Fitzgerald Europe
Stewart Dickson / Jeremy Stephenson
+44 (0) 20 7894 7000
Blythe Weigh Communications
Tim Blythe/Halimah Hussain
+44 (0) 20 7138 3204
Ocean Equities Limited
+44 (0) 20-7786-4370
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