Rambler Metals & Mining
Rambler Metals and Mining plc was established to invest in the base metal sector in politically stable jurisdictions. Its principal project is the Rambler copper-gold property, located on the Baie Verte Peninsula of Newfoundland and Labrador, Canada.
Rambler Metals still aims to start Ming mine production in 2010
Rambler Metals and Mining PLC said it is still aiming at bringing the Ming copper mine in Newfoundland into production in 2010. It is currently in talks with a number of third parties regarding project financing for the project.
While underground drilling and pre-development work was suspended in January to preserve cash, it is still conducting an underground engineering study covering mining operations for the first five years. The study is proceeding well and is on schedule to be completed by April 30 2009.
In its second quarter results and operations update, Rambler said net losses widened to £332,879 in the period to January 31 2009 from a 236,078 loss in the previous second quarter, because administration expenses increased £49,874 to £344,792.
Cash and cash equivalents at the end of the second quarter was £2.3 million and this figure had fallen to £1.9 million as at March 17 2009.
President and chief executive George Ogilvie said: “We look forward to the completion of the underground Engineering Study in April 2009 which will demonstrate the long term economic viability of the Project. We feel strongly about the Company’s future prospects in the coming year and we also look forward to resuming exploration activity, pre-production development and construction and bringing the Ming Mine into production in 2010.”
Other Rambler Metals & Mining articles
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26/08/10 Rambler Metals & Mining announces positive results from Ming mine feasibility study
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03/08/10 Rambler Metals secures cashflow for Ming copper-gold mine
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04/03/10 Rambler Metals secures gold off-take for Ming mine
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21/09/09 Rambler Metals and Mining extends gold exploration footprint near Ming Copper-Gold Mine
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05/01/09 George Ogilvie of Rambler Metals & Mining Speaks to Proactive Investors
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10/12/08 Rambler Metals and Mining expects pre-feasibility study in January
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09/09/08 Rambler Metals and Mining cuts 2.9 metres of 3.05 g/t Gold and 5.19% Copper
Other Rambler Metals & Mining news
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02/09/10 George Ogilvie, President & CEO of Rambler Metals & Mining, talks about a positive feasibility study for the Ming Mine in Newfoundland
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01/09/10 Rambler Metals and Mining set to receive further $2 million from Sandstorm Resources
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10/08/10 Rambler Metals & Mining gets green light for Nugget Pond construction work
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21/06/10 Rambler Metals & Mining reports on ‘extremely productive quarter’ at Ming mine development
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02/06/10 Environmental decision brings Rambler Metals' Ming mine closer to development
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01/06/10 Rambler Metals and Mining receives environmental approval for Ming Copper Gold Mine
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26/04/10 Rambler Metals & Mining promotes financial controller Williams to CFO position
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12/04/10 Rambler Metals and Mining submits environmental registration for Ming Mine, construction slated for Q3
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07/04/10 Rambler Metals & Mining to buy back part of NSR royalty for Ming property
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07/04/10 Rambler Metals & Mining to buy back part of NSR royalty for Ming property
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