LONDON, UNITED KINGDOM and BAIE VERTE, NEWFOUNDLAND AND LABRADOR — (Marketwire) — 12/20/12 — Rambler Metals and Mining PLC (TSX VENTURE: RAB)(AIM: RMM) („Rambler“ or the „Company“) is pleased to report its financial results and operational highlights for the three months ended 31 October 2012. This was a significant period for the Company as Management successfully completed commissioning the Ming Copper-Gold Mine leading to the declaration of commercial production commencing on 1 November 2012. Testing and commissioning continued throughout the first quarter of fiscal 2013 returning revenue of $9.5 million from the provisional sale of 4,797 wet metric tonnes (-wmt-) of copper concentrate.
Highlights of the first quarter of the 2013 fiscal year included:
Capital Development and Operational Achievements
Financial Highlights (All expressed in CAD$)
Revenue
Loss
Cash flow and cash resources
Financing, Royalty and Investment
Exploration and evaluation
Outlook
Management continue to pursue the following objectives:
George Ogilvie, President and CEO of Rambler, commented:
„With the commissioning of the Ming Mine, and the subsequent declaration of commercial production of copper concentrate on 1 November 2012, comes the culmination of a lot of hard work by the Rambler team. Over the next year, we will continue that track-record and focus our efforts on optimising the mining and processing at the Ming Mine while continuing to evaluate opportunities for a possible expansion into the Lower Footwall Zone.“
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 plc.
Tonnes referenced are dry metric tonnes unless otherwise indicated.
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 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 is expressed in good faith and believed to have a reasonable basis. 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 securities law.
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.
Contacts: Rambler Metals and Mining George Ogilvie, P.Eng. President and CEO 709-800-1929 709-800-1921
Rambler Metals & Mining Plc. Corporate Office +44 (0) 20 8652-2700 +44 (0) 20 8652-2719 (FAX)
Seymour Pierce Limited Stewart Dickson / Jeremy Stephenson +44 (0) 20-7107-8000
Pelham Bell Pottinger Charles Vivian / Daniel Thole +44 (0) 20 7861 3921
Ocean Equities Limited Guy Wilkes +44 (0) 20-7786-4370
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