Rambler Metals and Mining plc Completes Pre-Feasibility Engineering Study and Economic Assessment for Ming Copper-Gold Mine
Jul 20 15
Rambler Metals and Mining plc reported that it has completed a pre-feasibility engineering study and economic assessment (PFS) aimed to integrate the Lower Footwall Zone (LFZ) mineral resource into the life of mine (LOM) plan for the Ming Copper-Gold Mine. The PFS was successful in defining a staged, low capital strategy for the optimization of all existing infrastructure allowing the operation to run at full capacity of 1,250 metric tonnes per day (mtpd) by 2018. The results show positive economics, a strong internal rate of return and significant cash flow under reasonable commodity price assumptions. In addition, there remain further opportunities for improvement as the operation becomes fully optimized. The PFS is based on an optimization of the current high grade massive sulphide (Phase 1) operation by blending increasing amounts of LFZ ore with the massive sulphides as production ramps up to 1,250 mtpd. Current production at the operation is 650 metric tonnes of massive sulphide ore per day. The PFS plans increases in mill throughput to 850 mtpd in 2016; 1,180 mtpd in 2017 and finally 1,250 mtpd in 2018. Additional opportunities exist to improve the low risk, low capital base case scenario, including: integration of ore pre-concentration at the mine site. This could potentially allow for further optimization of mine production with equal tonnage, but higher grade, being delivered to the mill; additional resource growth through ongoing exploration in both the higher grade massive sulphide and LFZ; further utilization of the Nugget Pond base and precious metals milling facility with new feed sources from other regional copper and gold plays.
Rambler Metals & Mining PLC Reports Unaudited Consolidated Earnings and Production Results for the Third Quarter and Nine Months Ended April 30, 2015; Provides Production Guidance for the Fiscal Year 2015
Jun 22 15
Rambler Metals & Mining PLC reported unaudited consolidated earnings and production results for the third quarter and nine months ended April 30, 2015. For the quarter, revenue was CAD 9,186,000 against CAD 15,078,000 a year ago. Operating profit was CAD 3,000 against CAD 3,841,000 a year ago. Profit before tax was CAD 1,916,000 against CAD 3,312,000 a year ago. Profit and attributable to owners of the parent was CAD 1,321,000 or CAD 0.009 per basic and diluted share against CAD 2,306,000 or CAD 0.016 per basic and diluted share a year ago. Net cash generated from operating activities were CAD 1,909,000 against CAD 5,966,000 a year ago. Acquisition of mineral properties was CAD 1,468,000 against CAD 1,778,000 a year ago. Acquisition of property, plant and equipment was CAD 600,000 against CAD 525,000 a year ago. The increase in net profits is due to an increase in operating profit, unrealized exchange gains on the translation of the gold loan and gains on the concentrate receivable derivative financial instrument due to higher realized copper prices during the quarter. Earnings before interest, taxes, depreciation, and amortization were CAD 3,668,000 for the three months ended April 30, 2015 compared to CAD 6,244,000 a year ago.
For the nine months, revenue was CAD 32,011,000 against CAD 47,060,000 a year ago. Operating profit was CAD 679,000 against CAD 13,445,000 a year ago. Loss before tax was CAD 3,579,000 against profit before tax of CAD 10,096,000 a year ago. Loss and attributable to owners of the parent was CAD 2,746,000 or CAD 0.019 per basic and diluted share against profit and attributable to owners of the parent of CAD 7,041,000 or CAD 0.049 per basic and diluted share a year ago. Net cash generated from operating activities were CAD 8,817,000 against CAD 17,858,000 a year ago. Acquisition of mineral properties was CAD 4,324,000 against CAD 5,133,000 a year ago. Acquisition of property, plant and equipment was CAD 2,255,000 against CAD 1,550,000 a year ago.
For the fiscal 2015, the company projected to produce copper concentrate in the range of 215,000 dry tonnes to 230,000 dry tonnes. The group is targeting the lower end of production guidance for the fiscal 2015.
For the quarter, the company produced a total of 42,747 dry tonnes of copper concentrate.
For the nine months, the company produced a total of 156,162 dry tonnes of copper concentrate.