News Column

Rambler Metals & Mining Shares Rise On Production Increases

August 21, 2014

Sam Unsted

LONDON (Alliance News) - Rambler Metals & Mining PLC shares rose on Thursday after the firm said it met or exceeded all production targets in its fourth quarter and full year.

Shares in the Canada-focused copper and gold producer were up 6.1% to 23.875 pence on Thursday, putting it among the top risers on the AIM All-Share index.

In the fourth quarter to July 31, the company said copper concentrate production hit 6,000 tonnes, 4% below the volume in the third quarter but 7% ahead of guidance.

Dry tonnes milled in the quarter hit 59,526 tonnes, up 27% year-on-year and up 21% on the previous quarter. That resulted in the production of 1,708 tonnes of copper, 2,107 ounces of gold and 16,708 ounces of silver produced in the quarter.

For the full year to July 31, copper production hit 7,472 tonnes, 9% higher than guidance, while gold production was 26% higher at 6,921 ounces, and silver production beat guidance by 35% at 52,539 ounces.

"Fiscal 2015 will be a transformational year for us as we solidify plans to optimize available infrastructure with a goal to increase the longevity of the Ming copper-gold mine while ensuring we maintain a safe and profitable operation," said Rambler Chairman George Ogilvie.

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Source: Alliance News

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