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.
Rambler Metals & Mining plc Provides Update on its Exploration Diamond Drilling Activities at Ming Copper-Gold Mine
Jun 4 15
Rambler Metals & Mining PLC provided an update on its exploration diamond drilling activities over the past nine months at the Ming Copper-Gold Mine, located in Newfoundland and Labrador, Canada. Highlights - Copper: The Company completed 4,544 metres of diamond drilling in the 1807 Zone and has been successful in extending this high grade copper zone both down plunge and along strike. Table 1 below shows highlights of significant intersections. The deepest drill hole completed to date has extended the 1807 resource model an estimated 100 metres below the deepest reserve level of 630L. Drilling along strike to the west has extended the zone an estimated 40 metres beyond previous plans. The newly defined mineralisation is being modeled for inclusion in the 2016 Fiscal Budget and pre-feasibility with the Lower Footwall Zone. Drilling has recently started defining a new area down plunge on the Ming North Zone ('MNZ'), below the historically mined 2,300 foot level. Assay results have confirmed the extension of the zone with copper and gold grading over a broad intersection. This area has not been previously included in the mine's resource or reserve estimates. Highlights - Gold: 1,457 metres of diamond drilling has been completed on the 1806 and 1805 massive sulphide zones. New drilling intersected visible gold with grades ranging up to 18.32 grammes per tonne gold, 1.14% copper and 41.61 grammes per tonne silver over 9.51 metres (core length), including intersections of 37.63 grammes per tonne gold, 1.64% copper and 54.86 grammes per tonne silver over 3.82 metres. Table 2 below shows highlights of significant intersections. Drilling is ongoing to further define the extents of this new discovery. Extension of the Ming North Zone ('MNZ'): Recent drilling of the MNZ, approximately 50 metres below the historically mined 2,300 foot level, has confirmed the continuation of this ore zone at depth. While this area is not presently included in any resource shape the new drilling has intersected high grade copper in massive sulphides. Importantly, this drilling has also highlighted the presence of a broad stringer zone below the massive sulphides. Gold Rich 1805 and 1806 Zones: The 1805 and 1806 Zones are gold rich massive sulphides that occur on the mineralised hangingwall/footwall contact and exist laterally between the 1807 zone and the MNZ. rilling from ramp drill bays have determined that significant localised sulphide accumulations can occur adjacent to the 1807 ramp. Diamond drill assays from these zinc and copper rich sulphides have returned high grade gold associated with visible gold electrum. More drilling is being planned to determine the extent and mining potential of the new sulphides.
Rambler Metals & Mining PLC Reports Production Results for the Third Quarter and Nine Months Ended April 30, 2015; Provides Production Guidance for the Full Year of 2015
May 21 15
Rambler Metals & Mining PLC reported production results for the third quarter and nine months ended April 30, 2015. For third quarter, the company reported production of 1,043 tonnes of copper; 1,106 ounces of gold; 8,305 ounces of silver. Dry tonnes milled of 42,747 tonnes, representing a 13% decrease on third quarter of 2014 results and a 22% decrease on second quarter of 2015; Production of 3,989 tonnes of copper concentrate representing a 14% decrease over second quarter of 2015. Concentrate grade of 26.15%, 8.63 grammes per tonne and 64.75 grammes per tonne for copper, gold and silver respectively.
For the year to date, the company reported production of 3,774 tonnes of copper; 3,840 ounces of gold; 28,964 ounces of silver. Dry tonnes milled were 156,162 tonnes. Dry tonnes produced were 13,709 tonnes.
For 2015, the company expects dry tonnes milled of 215,000 to 230,000, Dry tonnes produced of 20,000 to 24,000, copper metal of 5,400 tonnes to 6,700 tonnes, gold of 5,600 ounces to 6,600 ounces and silver expected to be in the range of 39,000 ounces to 46,000 ounces.