23 Sep 2014 09:39
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Don't have an account? Click here to register.Rambler's loss still expands as production at highest level since 2015
Wed, 21st Nov 2018 11:25
(Sharecast News) - Rambler Metals & Mining reported on Wednesday that it its third quarter loss expanded even as production reached its highest level since the fourth quarter of 2015.For the three months ended 30 September the copper and gold producer scored a loss before tax of $3.1m, up 63% from the same point last year but down from $4.5m from the second quarter, as saleable copper production reached 1,266 tonnes.The company's Ming copper and gold mine project has also seen its development rate rise by 26% since the start of a productivity improvement project in early June, with the average daily ore production rate up from 1000 wet metric tonnes per day to 1300 wmt/d.Norman Williams, president and chief executive, said: "The company commenced a productivity improvement initiative in the mine. The twenty-four-week initiative is focused on productivity and efficiency improvements in three main areas: mine planning, mine operations and mine mobile equipment maintenance. The commitment of the project is to return the mine to profitability and positive cash flow."The ramping up of operations led to a $0.6m increase in G&A costs but revenue of $9m constituted an 11% increase over the second quarter and a 23% increase over the prior year.The AIM traded miner had cash and cash equivalents of $0.9m at the end of the third quarter, down from $3.4m at the same point last year."With this improved mine performance, the addition of high-grade mill feed from the successful drilling in the Ming North Zone (development of which has begun), and higher grades coming on line as we move deeper in the Lower Footwall Zone, we are setting up well for a stronger financial performance in 2019," said Williams.Rambler's shares were unchanged at 2.95p at 1149 GMT.
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21 Aug 2014 09:46
19 Jun 2014 08:59
Rambler Metals & Mining Says It Is Now Debt Free And Profitable
LONDON (Alliance News) - Rambler Metals and Mining PLC Thursday reported an increase in its pretax profit for the third quarter of its financial year supported by lower production and administrative expenses. The Canadian copper and gold producer, operating in the province of Newfoundland a
Read more27 May 2014 11:31
Rambler Metals & Mining Participates In Maritime Resources Placement
LONDON (Alliance News) - Rambler Metals & Mining PLC Tuesday said it has subscribed to a private placement in Maritime Resources Corp with CAD129,000, giving it a 17.7% stake in the company. In a statement, the Canadian copper and gold producer said CAD79,000 of the subscription amount will
Read more22 May 2014 14:25
UPDATE: Rambler Metals Increases Copper Production In Third Quarter
LONDON (Alliance News) - Rambler Metals and Mining PLC Thursday announced results from drilling at its Little Deer prospect and 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
Read more22 May 2014 12:06
Rambler Metals Increases Copper Production In Third Quarter
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 La
Read more23 Apr 2014 10:59
Rambler Metals Delivers Largest Copper And Gold Shipment To Date
LONDON (Alliance News) - Rambler Metals & Mining PLC Wednesday said that it delivered its largest shipment to date of copper and gold concentrate from the Goodyear's Cove in Canada. The copper and gold producer, which operates in Newfoundland and Labrador in Canada, said that it has deliver
Read more7 Apr 2014 10:19
Monday broker round-up UPDATE
Abcam: Canaccord Genuity lowers target price from 386p to 375p, while upgrading from sell to hold. Aberbdeen Asset Management: Credit Suisse ups target price from 415p to 440p and stays with its neutral rating. AO World: Jefferies initiates with a target price of 410p and a buy recommendation. JP
Read more2 Apr 2014 13:02
Rambler buys further stake in Marathon Gold
Canada-focused copper and gold producer Rambler Metals and Mining has raised its stake further in Toronto-listed Marathon Gold under the terms of a subscription agreement made in December. Rambler subscribed to buy 797,448 common shares at a price of $0.3135 per share for total proceeds of $250,000
Read more2 Apr 2014 11:17
Rambler Metals & Mining Ups Marathon Gold Stake In Second Share Subscription
LONDON (Alliance News) - Rambler Metals and Mining PLC Wednesday said it now has a 3.1% stake in Marathon Gold Corp after it undertook the second tranche of a subscription deal it had agreed back in December. Under this second tranche of the subscription, Rambler bought 797,448 Marathon sha
Read more1 Apr 2014 12:12
Rambler Metals & Mining Notes Marathon's High-Grade Gold Recoveries
LONDON (Alliance News) - Rambler Metals & Mining PLC Tuesday said that drilling at Marathon Gold Corp's Valentine Lake Project in Canada has expanded the Sprite Zone, with high-grade near surface gold intercepts. The copper and gold producer, which has a strategic investment in Marathon, sa
Read more