SOURCE: Rambler Metals & Mining Plc

March 30, 2016 02:09 ET

Rambler Metals & Mining PLC: Second Quarter Unaudited Financial Results

BAIE VERTE, NL--(Marketwired - Mar 30, 2016) - Rambler Metals & Mining PLC (TSX VENTURE: RAB) (AIM: RMM)

30 March, 2016

Unaudited Consolidated Financial Information
For the Quarter Ended January 31, 2016

London, United Kingdom & Newfoundland and Labrador, Canada - Rambler Metals and Mining PLC (TSXV: RAB, AIM: RMM) ('Rambler' or the 'Company') today announces its unaudited financial results and operational highlights for the quarter ended 31 January, 2016.

Key Financial Highlights (CAD$, 000's):

  Q2
2016
  Q1
2016
  YTD
2016
  Q2
2015
  YTD
2015
                   
Revenue 8,327   11,203   19,530   10,527   22,825
Profit/(loss) after tax (1,544)   364   (1,180)   (4,343)   (4,067)
Earnings/(loss) per share ($) (0.011)   0.003   (0.008)   (0.030)   (0.028)

Financial Highlights (all amounts in Canadian dollars)

  • A total of 3,770 dmt (Q1/16: 4,879 dmt, Q2/15: 5,005 dmt) of concentrate was provisionally invoiced during the period at an average price of $2.89 (Q1/16: $3.10, Q2/15: $3.39) per pound copper;

  • Revenue for the quarter was $8.3 million (Q1/16: $11.2 million, Q2/15: $10.5 million) after adjustments arising from second provisional invoices and final settlement of provisional invoices;

  • Cash flows generated from operating activities were $1.8 million (Q1/16: $2.2 million, Q2/15: $2.2 million);

  • Net cash direct costs per pound of copper net of by-product credits ('C1') for the quarter were $2.46 (Q1/16: $1.99, Q2/15: $2.97). Copper produced in the same quarter was 2.1 million pounds (Q1/16: 2.8 million, Q2/15: 2.8 million) which accounts for the increase in C1 costs compared to Q1/16. The decrease compared to Q2/15 is due to increased productivity in Q2/16;

  • Earnings before interest, taxes, depreciation, amortisation were $0.75 million for the three months ended January 31, 2016 compared to $2.9 million in Q1/16 and $(4.4) million in Q2/15;

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