SOURCE: Rambler Metals & Mining Plc

March 03, 2014 02:00 ET

Rambler Makes Final Repayment Against Credit Facility With Sprott Resource Lending Partnership

LONDON, UNITED KINGDOM and BAIE VERTE, NEWFOUNDLAND and LABRADOR, CANADA--(Marketwired - Mar 3, 2014) - Rambler Metals and Mining plc (TSX VENTURE: RAB) (LSE: RMM) ('Rambler' or the 'Company'), a copper and gold producer operating in Newfoundland and Labrador, Canada, today announces that following a final payment of CAD $1.0 million on 28 February 2014 the outstanding balance of the Company's CAD $10.0 million credit facility with Sprott Resource Lending Partnership ('Sprott') has been repaid.

Cash resources as at 28 February 2014 were CAD $5.5 million.

Norman Williams, President and CEO, commented:

"This is a tremendous achievement for Rambler and demonstrates its ability to generate free cash flow from its Ming Mine asset. Steady production, coupled with meeting budgeted grades and higher than budgeted copper recoveries, has enabled the Company to meet its cash flow targets and focus on repaying this credit facility ahead of schedule.

"As the Company's cash position strengthens, the Board of Directors will continue its review of capital allocation resulting from free cash to maximize shareholder value."

Please click on the link below for an audio interview with Norman Williams;

http://www.brrmedia.co.uk/event/121257?popup=true

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/3173B_1-2014-3-3.pdf

Contact Information

  • Peter Mercer
    Vice President and Corporate Secretary
    Rambler Metals and Mining
    Tel No: 709-800-1929
    Fax No: 709-800-1921
    Stewart Dickson / Jeremy Stephenson
    Cantor Fitzgerald Europe
    Tel No: +44 (0) 20 7894 7000

    Rambler Metals & Mining Plc
    Corporate Office
    Tel No: +44 (0) 20 8652-2700
    Fax No: +44 (0) 20 8652-2719
    Tim Blythe/Halimah Hussain
    Blythe Weigh Communications
    Tel No: +44 (0) 20 7138 3204

    Guy Wilkes
    Ocean Equities Limited
    Tel No: +44 (0) 20-7786-4370

    Website: www.ramblermines.com