LONDON, ENGLAND and BAIE VERTE, NFLD / ACCESSWIRE / November 21, 2018 / 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 quarter ended September 30, 2018.
Quarter Highlights
- Saleable copper production of 1,266 tonnes (t) (Q2/18: 978 t; Q3/17: 1,004 t), highest since Q4/15;
- Mill throughput of 93,128 dry metric tonnes ('dmt') of ore (Q2/18: 94,589 dmt, Q3/17: 79,300 dmt) with copper head grade of
1.46% (Q2/18: 1.12%, Q3/17: 1.38%);
- Continued the productivity improvement initiative in the mine. The development rate has risen from 19 to 24 rounds per week
since the start of the project in early June (26% rise). Average daily ore production rate has increased from 1000 wet metric
tonnes per day (wmt/d) to 1300 wmt/d (30% rise). These trends continue.
- Revenue was US$9.0 million (Q2/18: US$8.1 million, Q3/17: US$7.3 million), highest since Q1/15;
- Direct cash costs net of by-product credits (C1 costs) for the quarter were US$3.35/lb (Q2/18: US$3.66/lb, Q3/17: US$
2.87/lb);
- Operating loss of US$3.8 million (Q2/18: US$3.4 million, Q3/17: US$2.5 million) and Earnings/(losses) before interest, taxes,
depreciation, amortisation ('EBITDA') of US$(1.5) million (Q2/18: US$(1.4) million, Q3/17: US$(0.5) million). EBITDA adjusted for
one off mine consultancy costs for the quarter was US$(0.3) million (Q2/18: US$(0.8) million;
- Exploration drilling in the Ming North Zone discovered significant mineralization down plunge of the historical mining limits
higher in the mine, extending the high grade massive sulphide zone an additional 300 meters down plunge. A total of 2,027 meters
of new drilling was completed, including hole R18-722-12 with 25.5 meters of 9.4% copper with 5.1 g/t gold (see press release of
October 1, 2018 - "Rambler provides an update on Diamond Drilling Exploration at its Ming Copper-Gold Mine");
Please click on, or paste the following link into your web browser to view the full announcement;
http://www.rns-pdf.londonstockexchange.com/rns/9689H_1-2018-11-20.pdf
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 Adviser (NOMAD)
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Investor Relations
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David Porter, Peter Malovany
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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SOURCE: Rambler Metals and Mining plc