LONDON (Alliance News) - Rambler Metals and Mining PLC Thursday said that it has delivered about 5,300 wet metric tonnes of copper and gold concentrate from Goodyear's Cove, NL Canada, and said it is on track to exceed the forecasted guidance for concentrate production in its current financial year.
In a statement, the mining and development company said that its internal sampling estimates an average grade for the shipment of 27.8% copper, 9.9 grammes per tonne gold and 82 grammes per tonne silver. It said that this is the third shipment during the calendar year, and the seventh completed to date.
This brings the total concentrate delivered to approximately 46,800 wmt, Rambler said, adding that it still has more than 1,400 wmt of concentrate in storage at its Goodyear's Cove Facility.
"Since the initial start of production in 2012 we have produced and shipped over 46,000 tonnes of high grade copper concentrate. We have been working to improve gold recovery at the mill since our last shipment in April which can account for the slightly higher amounts of precious metals in this batch," President and Chief Executive Norman Williams said in a statement.
"With just one month left to our July 31 year-end we are on track to exceed the forecasted guidance for concentrate production," Williams added.
Rambler shares were Thursday quoted at 24.4625 pence, up 2.8%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.
