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13/05/2011

George Ogilvie from Rambler Metals says the company is “significantly undervalued”

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Additional Information
Market: TSX-V AIM
Sector: General Mining
EPIC: RAB
Latest Price: 0.48  (0,00%)
52-week High: 0.78
52-week Low: 0.38
Market Cap: 59.18M
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Rambler Metals & Mining
www.ramblermines.com

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.

Full Rambler Metals & Mining profile here
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Rambler Metals still aims to start Ming mine production in 2010

18th Mar 2009, 11:56 am
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.”

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