SOURCE: Rambler Metals & Mining Plc

October 24, 2016 04:17 ET

Rambler Metals & Mining PLC: Final Results

BAIE VERTE, NL--(Marketwired - Oct 24, 2016) - Rambler Metals & Mining PLC (TSX VENTURE: RAB) (LSE: RMM)

TSXV: RAB, AIM: RMM
24 October 2016

Rambler Reports Financial Results Year Ended July 31, 2016

London, England & Baie Verte, Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (TSXV: RAB, AIM: RMM) ('Rambler' or the 'Company'), a copper and gold producer operating in Newfoundland and Labrador, Canada, today reports its financial results and operational highlights for the year ended July 31, 2016.

HIGHLIGHTS 2016

  • Completed financing for the Phase II expansion with CE Mining Fund II L.P., a specialized mining and mineral investment fund, advised by Plinian Capital Limited;

  • Commenced mine development and project optimization for the Phase II expansion with a new projected mine life of over 21 years;

  • The Company met all of its key production guidance targets with 241,080 dry metric tonnes milled; Copper grades of 2.12% and gold grades of 1.40 g/t; Milling recoveries for copper and gold averaged 95.6% and 68.7% respectively; Concentrate grade average of 26.9% copper with 13.8 g/t gold;

  • Lowered C1 costs, down from an average of US$2.11 per lbs in fiscal 2015 to US$1.72 per lbs in fiscal 2016; 

  • Recipient of the John T Ryan Safety Award from the Canadian Institute of Mining, Metallurgy and Petroleum ('CIM').

Please click on the associated PDF to view the full announcement:

http://www.rns-pdf.londonstockexchange.com/rns/2783N_1-2016-10-24.pdf

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