SP Angel – Morning View – Friday 037 May 2019 10:35
Rambler Metals has reported a second consecutive year of record mill throughput in 2018 with the tonnage processed at the Nugget Pond mill increasing by 7% to 364,176t at an average grade of 1.24% copper and 0.57g/t gold (2017 1.27% copper and 0.58g/t gold).
The milled tonnage was closely matched by the 344,363t of ore mined from the Ming mine.
Copper concentrate production increased by 4% to 15,525t and the average grade of the concentrate rose by 1% to 28.1% copper and by 18% to 9.4g/t gold.
As a result, production of saleable copper rose by 6% to 4,187t and of gold by 25% to 4,189oz.
The company reports that “Annual mill throughput averaged 1,108 dry tonnes per day with a monthly peak of 1,228 dry tonnes per day in April.”
The company has previously announced that it is targeting an average throughput of 1,250tpd and so it particularly encouraging to hear that “Into 2019, to match increased mine output, the mill continues to push throughput and has recently achieved a one-day record throughput of 1,492 dry tonnes per day. This is another significant milestone for the Company and confirms that incremental mill improvements will allow the facility to produce at a sustained rate at or greater than 1,250 dry tonnes per day.”
Operational improvements in the mine, including “The completion of the surface ventilation project and the continuation of the Business Improvement Initiative that was started in June 2018 has resulted in improved production metrics from the mine operation” and continuing success in de-bottlenecking “the copper concentrator processing circuit to accommodate the increased production from the mine” underline the improving productivity and provide encouragement that further improvements may be achievable.
Commenting on the progress made during the year, recently appointed President and CEO, Andre Booyzen, highlighted “year-over-year improvements in mine output, mill throughput, concentrate production, and metal recoveries”.
He went on to indicate that “Given the productivity improvements in the mine operation, which has provided access to better grade material in both the Lower Footwall Zone and the Ming Massive Sulfide deposits, we are now turning our attention to increasing the overall feed grade delivered to the mill and returning the Company to positive cash flows during a time that has seen significant run up and positive outlook on long term copper price forecasts.”
Conclusion: A second consecutive record year for ore treatment, in conjunction with the de-bottlenecking and closer matching of processing capacity to mine production, opens the way for sustainable production in excess of the targeted 1,250tpd as demonstrated by the delivery of record single-day throughput of 1,492t recently.
*SP Angel act as Nomad and broker to Rambler Metals & Mining
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