SOURCE: Rambler Metals & Mining Plc

May 25, 2017 02:00 ET

Rambler Reports Financial Results Period Ended March 31, 2017

BAIE VERTE, NL--(Marketwired - May 25, 2017) - Rambler Metals & Mining PLC (TSX VENTURE: RAB) (AIM: RMM)

TSXV: RAB, AIM: RMM

25 May 2017

Rambler Reports Financial Results Period Ended March 31, 2017

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 unaudited financial results and operational highlights for period ended March 31, 2017 (Q1/17).

PERIOD HIGHLIGHTS

  • Production of 75,438 dry metric tonnes ('dmt') of ore (Q4/16: 72,036 dmt, Q1/16: 58,362 dmt) a 5% increase on the previous quarter, with copper head grade of 1.13% (Q4/16: 1.36%, Q1/16: 2.28%).
  • Production of 2,930 tonnes of concentrate (Q4/16: 3,168 dmt, Q1/16: 4,260 dmt) containing 794 metric tonnes of saleable copper (Q4/16: 850 dmt, Q1/16: 1,107 dmt) and 391 ounces of saleable gold (Q4/16: 865 dmt, Q1/16: 2,096 dmt).
  • Revenue for the quarter was US$5.7 million (Q4/16: US$5.4 million, Q1/16: US$7.7 million).
  • Average prices for the quarter were US$2.63 per pound of copper (Q4/16: US$2.36, Q1/16: US$2.13) and US$1,211 per ounce gold (Q4/16: US$1,246 Q1/16: US$1,173).
  • Operating loss of US$3.5 million (Q4/16: US$3.4 million, Q1/16: US$0.4 million profit) and Earnings before interest, taxes, depreciation, amortisation ('EBITDA') of US$(1.5) million (Q4/16: US$(1.0) million, Q1/16: $2.9 million).
  • Direct cash costs net of by-product credits ('C1 costs') for the quarter were US$3.39 per saleable pound of copper (Q4/16: US$2.99, Q1/16: US$1.39).
  • Cash flows (utilized)/generated from operating activities were US$(2.1) million (Q4/16: US$0.2 million, Q1/16: US$2.4 million).

Rambler is dual listed in London under AIM:RMM and in Canada under TSX-V:RAB.

For further information, please contact:

  Norman Williams, CPA,CA
President and CEO
Rambler Metals & Mining Plc
Tel No: 709-800-1929
Fax No: 709-800-1921
  Peter Mercer
Vice President, Corporate Secretary
Rambler Metals & Mining Plc
Tel No: +44 (0) 20 8652-2700
Fax No: +44 (0) 20 8652-2719

Nominated Advisor (NOMAD)

Investor Relations
  David Porter, Craig Francis
Cantor Fitzgerald Europe
Tel No: +44 (0) 20 7894 7000
  Nicole Marchand Investor Relations
Tel No: 416- 428-3533
Nicole@nm-ir.com

Website: www.ramblermines.com

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This information is provided by RNS
The company news service from the London Stock Exchange
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