LONDON (Alliance News) - Rambler Metals & Mining PLC reported on Tuesday a significant increase in interim gold output, while it also produced a record quarterly volume of ore.
For the six months to June, Rambler produced 1,861 ounces of gold, up 40% year-on-year. Gold concentrate grades improved to 9.7 grammes of gold per tonne of ore for the period from 6.7 g/t gold.
Rambler, owns the Ming mine in Newfoundland & Labrador, posted average gold recoveries to concentrate improved in the half to 68% from the 60% registered a year prior.
For copper, 1,801 tonnes were recovered from concentrate from 1,906 tonnes a year before, with average recoveries increased to 96% from 95%.
Feed grades for the period average 1.1% for copper and 0.5 g/t gold, similar to the levels recorded a year prior.
Total mill throughput for the half was 177,605 dry metric tonnes of ore, up 9% year-on-year, with the second quarter a record 94,589 dry metric tonnes.
Shares were 0.6% higher on Tuesday at a price of 4.22 pence each.