Rambler Metals & Mining Plc

AIM : RMM
TSX VENTURE : RAB


Rambler Metals & Mining Plc

January 14, 2014 03:32 ET

Rambler Ships More High Grade Copper Concentrate to International Markets

LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwired - Jan. 14, 2014) - Rambler Metals and Mining plc (TSX VENTURE:RAB)(AIM:RMM) ('Rambler' or the 'Company') today announces that, as planned, it has delivered approximately 6,608 wet metric tonnes ('wmt') of copper and gold concentrate from Goodyear's Cove, NL Canada.

The Company's internal sampling estimates an average grade for the shipment of 28.28 per cent copper, 7.36 grammes per tonne gold and 51 grammes per tonne silver. This is the fifth shipment, as part of an off-take agreement with Transamine Trading SA (Transamine'), and brings the total delivered to approximately 32,300 wmt to date.

Following the shipment, the Company still has over 3,274 wmt of concentrate in storage at its Goodyear's Cove Storage Facility.

George Ogilvie, President and CEO, commented:

"This shipment keeps us on track with our commitment to supply Transamine with 85,000 wmt of high grade copper concentrate.
"Production at the mine continues at a steady pace while copper recovery at the mill is averaging 95 per cent plus, approximately two per cent above budgeted forecasts.
"I am pleased with our continued operational progress which is delivering enhanced value for our shareholders."

ABOUT RAMBLER METALS AND MINING

Rambler is a mining and development Company that in 2012 brought its first mine into commercial production. The group has a 100 per cent ownership in the Ming Copper-Gold Mine, a fully operational base and precious metals processing facility and year round bulk storage and shipping facility; all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.
The Company's Vision is to be Atlantic Canada's leading mine operator and resource developer through the expansion of the Ming Mine, discovering new deposits and through mergers and acquisitions. Rambler listed on the London AIM in 2005 and Toronto TSX-V in 2007.

Larry Pilgrim, P.Geo., is the Qualified Person responsible for the technical content of this release and has reviewed and approved it accordingly. Mr. Pilgrim is an independent consultant contracted by Rambler Metals and Mining Canada Limited.

Tonnes referenced are dry metric tonnes unless otherwise indicated.

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward Looking Statements:

Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute "forward-looking statements". Such forward-looking statements include, without limitation, statements regarding copper, gold and silver forecasts, the financial strength of the Company, estimates regarding timing of future development and production and statements concerning possible expansion opportunities for the Company. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, copper concentrate, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, interpretation and implications of drilling and geophysical results; estimates regarding timing of future capital expenditures and costs towards profitable commercial operations. Other factors that could cause actual results, developments or events to differ materially from those anticipated include, among others, increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operating margins; cash operating cost per pound sold; costs per ton of ore; variances in ore grade or recovery rates from those assumed in mining plans; reserves and/or resources; the ability to successfully integrate acquired assets; operational risks inherent in mining or development activities and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals and environmental protection. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable law.

Contact Information

  • George Ogilvie, P.Eng.
    President and CEO
    Rambler Metals and Mining
    Tel No: 709-800-1929
    Tel No: 709-800-1921

    Rambler Metals & Mining Plc
    Corporate Office
    Tel No: +44 (0) 20 8652-2700
    Fax No: +44 (0) 20 8652-2719
    Website: www.ramblermines.com

    Stewart Dickson / Jeremy Stephenson
    Cantor Fitzgerald Europe
    Tel No: +44 (0) 20 7894 7000

    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