First Quarter 2014 Operating Results
20 Noviembre 2013 - 12:00AM
Marketwired Canada
Rambler Metals and Mining plc (TSX VENTURE:RAB)(AIM:RMM) ('Rambler' or the
'Company'), a copper and gold producer operating in Newfoundland and Labrador,
Canada, today provides an operational update for its fiscal first quarter ending
31 October 2013 - a period which marks the company's first full year of
commercial production.
HIGHLIGHTS IN THE QUARTER:
-- Record production of 6,591 tonnes of copper concentrate representing a
26 per cent increase over the Quarter ending 31 October 2012
-- Record dry tonnes milled of 55,659 tonnes (18 per cent increase)
resulting in the production of:
-- 1,956 tonnes of Copper (26 per cent increase)
-- 1,655 ounces of Gold (28 per cent increase)
-- 11,870 ounces of Silver (20 per cent increase)
-- Head grades of Copper 3.71 per cent, Gold 1.64 grammes per tonne and
Silver 9.22 grammes per tonne with recoveries to concentrate for Copper
96 per cent, Gold 62 per cent and Silver 76 per cent
-- Concentrate grade for Copper 29.7 per cent, Gold 7.8 grammes per tonne
and Silver 56.0 grammes per tonne
Robert P. McGuire, P.Eng, General Manager, commented:
"We are again very pleased to see record tonnage and metal produced while head
grades and recoveries for copper and silver remained above planned targets. We
now believe that the copper circuit is running at optimal performance levels
allowing time for further analysis into precious metal recovery.
"These results leave us well placed for meeting our formal fiscal 2014 guidance."
George Ogilvie, P.Eng, President and CEO, commented:
"The steady state production that we are now seeing at the operation is a
testament to the hard work and dedication we have seen from the team since
inception. I have every confidence that the successful operation that we have
built together will continue to thrive under the guidance of our Senior
Management Team."
OPERATIONAL SUMMARY
For the first full 12 months in commercial production the Company milled 193,056
dry metric tonnes and produced 20,393 tonnes of copper concentrate with 5,909
tonnes of copper metal, 4,792 ounces of gold and 35,828 ounces of silver. The
average feed grade during this period was 3.63 per cent copper, 1.41 grammes per
tonne gold and 9.03 grammes per tonne silver followed by a mill recovery of 93
per cent, 62 per cent and 72 per cent for copper, gold and silver respectively.
Q2 2013 Q3 2013 Q4 2013 Q1 2014
(Nov, Dec, (Feb, Mar, (May, Jun, (Aug, Sep,
PRODUCTION Jan) Apr) Jul) Oct)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Dry Tonnes Milled 46,463 43,907(i) 47,027 55,659
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Copper Recovery 89% 91% 94% 96%
----------------------------------------------------------------------------
Gold Recovery 58% 62% 65% 62%
----------------------------------------------------------------------------
Silver Recovery 68% 71% 73% 76%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Copper Head Grade (%) 3.14 3.59 4.05 3.71
----------------------------------------------------------------------------
Gold Head Grade (g/t) 1.13 1.29 1.52 1.64
----------------------------------------------------------------------------
Silver Head Grade (g/t) 7.19 8.68 10.95 9.22
----------------------------------------------------------------------------
----------------------------------------------------------------------------
CONCENTRATE
(Produced and Stored in Warehouse)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Copper (%) 27.6 27.9 30.0 29.7
----------------------------------------------------------------------------
Gold (g/t) 6.7 6.7 7.7 7.8
----------------------------------------------------------------------------
Silver (g/t) 51.0 51.4 58.6 56.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Dry Tonnes Produced 3,983 4,575 5,244 6,591
----------------------------------------------------------------------------
Copper Metal (tonnes) 1,101 1,278 1,574 1,956
----------------------------------------------------------------------------
Gold (ounces) 853 987 1,297 1,655
----------------------------------------------------------------------------
Silver (ounces) 6,528 7,557 9,873 11,870
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Note: (1) Table showing first twelve months in commercial production
(2) (i) Freezing of the course ore bin in February
Details of the Company's financial performance, including capital expenditure
and operating costs, will be included in its Q1 2014 financial results to be
released on or before Tuesday, 10 December 2013.
FISCAL 2014 FORECAST
The operational results for the Q1 2014 quarter are in line with the fiscal
forecast. Copper production for the 2014 fiscal year is forecast between 5,700
and 6,840 tonnes of metal with 4,500 to 5,500 ounces of gold in concentrate and
32,000 to 39,000 ounces of silver.
PRODUCTION - Fiscal 2014 CONCENTRATE - Produced
------------------------------------- -------------------------------------
------------------------------------- -------------------------------------
Dry Tonnes Milled 200,000 - 220,000 Copper (%) 27 - 30
------------------------------------- -------------------------------------
Gold (g/t) 6 - 8
------------------------------------- -------------------------------------
Copper Recovery 92 - 94 % Silver (g/t) 45 - 55
------------------------------------- -------------------------------------
Gold Recovery(i) 63 - 67 %
------------------------------------- -------------------------------------
Silver Recovery 55 - 65 % Dry Tonnes Produced 20,000 - 24,000
------------------------------------- -------------------------------------
Copper Metal
(tonnes) 5,700 - 6,840
------------------------------------- -------------------------------------
Copper Head Grade
(%) 3 - 4 Gold (ounces)(ii) 4,500 - 5,500
------------------------------------- -------------------------------------
Gold Head Grade
(g/t) 1 - 2 Silver (ounces) 32,000 - 39,000
------------------------------------- -------------------------------------
Silver Head Grade
(g/t) 6 - 8
------------------------------------- -------------------------------------
------------------------------------- -------------------------------------
Note: (1) (i)Gold recovery to concentrate only
(2) (ii)An additional 2,500 - 3,500 oz Gold is being forecast from
the gold hydromet
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development Company that in November 2012 brought its
first mine into commercial production. The group has a 100 per cent ownership in
the Ming Copper-Gold Mine, a fully operational base and precious metals
processing facility and year round bulk storage and shipping facility; all
located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.
The Company's Vision is to be Atlantic Canada's leading mine operator and
resource developer through the expansion of the Ming Mine, discovering new
deposits and through mergers and acquisitions. Rambler listed on the London AIM
in 2005 and Toronto TSX-V in 2007.
Larry Pilgrim, P.Geo., is the Qualified Person responsible for the technical
content of this release and has reviewed and approved it accordingly. Mr.
Pilgrim is an independent consultant contracted by Rambler Metals and Mining
Canada Limited.
Tonnes referenced are dry metric tonnes unless otherwise indicated.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements:
Certain information included in this press release, including information
relating to future financial or operating performance and other statements that
express the expectations of management or estimates of future performance
constitute "forward-looking statements". Such forward-looking statements
include, without limitation, statements regarding copper, gold and silver
forecasts, the financial strength of the Company, estimates regarding timing of
future development and production and statements concerning possible expansion
opportunities for the Company. Where the Company expresses or implies an
expectation or belief as to future events or results, such expectation or belief
are based on assumptions made in good faith and believed to have a reasonable
basis. Such assumptions include, without limitation, the price of and
anticipated costs of recovery of, copper concentrate, gold and silver, the
presence of and continuity of such minerals at modeled grades and values, the
capacities of various machinery and equipment, the availability of personnel,
machinery and equipment at estimated prices, mineral recovery rates, and others.
However, forward-looking statements are subject to risks, uncertainties and
other factors, which could cause actual results to differ materially from future
results expressed, projected or implied by such forward-looking statements. Such
risks include, but are not limited to, interpretation and implications of
drilling and geophysical results; estimates regarding timing of future capital
expenditures and costs towards profitable commercial operations. Other factors
that could cause actual results, developments or events to differ materially
from those anticipated include, among others, increases/decreases in production;
volatility in metals prices and demand; currency fluctuations; cash operating
margins; cash operating cost per pound sold; costs per ton of ore; variances in
ore grade or recovery rates from those assumed in mining plans; reserves and/or
resources; the ability to successfully integrate acquired assets; operational
risks inherent in mining or development activities and legislative factors
relating to prices, taxes, royalties, land use, title and permits, importing and
exporting of minerals and environmental protection. Accordingly, undue reliance
should not be placed on forward-looking statements and the forward-looking
statements contained in this press release are expressly qualified in their
entirety by this cautionary statement. The forward-looking statements contained
herein are made as at the date hereof and the Company does not undertake any
obligation to update publicly or revise any such forward-looking statements or
any forward-looking statements contained in any other documents whether as a
result of new information, future events or otherwise, except as required under
applicable law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Rambler Metals and Mining
George Ogilvie, P.Eng.
President and CEO
709-800-1929 or 709-800-1921
Rambler Metals & Mining Plc
Corporate Office
+44 (0) 20 8652-2700
+44 (0) 20 8652-2719 (FAX)
www.ramblermines.com
Cantor Fitzgerald Europe
Stewart Dickson / Jeremy Stephenson
+44 (0) 20 7894 7000
Blythe Weigh Communications
Tim Blythe / Halimah Hussain
+44 (0) 20 7138 3204
Ocean Equities Limited
Guy Wilkes
+44 (0) 20-7786-4370
Rambler Metals and Mining plc (TSXV:RAB)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Rambler Metals and Mining plc (TSXV:RAB)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
