LONDON (Alliance News) - Rambler Metals and Mining PLC Thursday said it is on track to meet or exceed its full-year production guidance, after increasing copper production in its third quarter compared to the previous year.
The copper and gold producer, which operates in Newfoundland and Labrador in Canada, said production in the three months ended April 30 increased 36% to 6,238 tonnes of copper concentrate when compared to the previous year but fell 9% when compared to the previous quarter.
The company also said the number of dry tonnes mined overall increased 12% to 49,355 tonnes when compared to the previous year but also fell 3% when compared to the previous quarter.
Rambler said its gold, silver and copper recovery rates and head grades were all within or above its guidance for the full year.
"I am confident that Rambler is on track to meet or exceed the top end guidance for copper recovery, concentrate produced and metal production," Chief Executive Norman Williams said in a statement.
Rambler Metals & Mining shares were up 2.3% to 25.70 pence Thursday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
Copyright 2014 Alliance News Limited. All Rights Reserved.