LONDON (Alliance News) - Rambler Metals and Mining PLc on Wednesday said it met planned production guidance for the first quarter of its financial year.
The copper and gold producer, which operates in Newfoundland and Labrador, Canada, said 4,788 tonnes of copper concentrate were produced in the quarter ended October 31, a 33% increase on the previous quarter and a 6.0% decrease on the equivalent quarter the prior year.
For the quarter concentrate graded 26.57%, 12.90 grammes per tonne and 101.75 grammes per tonne for copper, gold and silver, the company said.
For the quarter head grades for copper averaged 2.42%; gold at 1.45 grammes per tonne; silver at 8.80 grammes per tonne. Recoveries of concentrate for copper were 95.3 per cent, gold 70.6% and silver 76.4%, the company said.
Overall, there was production of 1,272 tonnes of copper; 1,986 ounces of gold; and 15,664 ounces of silver in the quarter.
Shares in Rambler were down 6.7% at 2.80 pence on Wednesday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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