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UPDATE - Rambler Metals makes twelfth concentrate shipment

Last updated: 10:04 02 Feb 2016 EST, First published: 03:04 02 Feb 2016 EST

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Ming stared commercial production in November 2012.

-- adds target price --

Rambler Metals and Mining (CVE:RAB, LON:RMM) has delivered approximately 8,000 wet metric tonnes (wmt) of concentrate from its facility in Newfoundland.

The shipment was the twelfth from mine and its average grades of 26% copper, 14g/t gold and 107 g/t silver made it a high quality product by concentrate standards Rambler said.

About 78,000 wmt has been delivered since commercial production was declared at Ming with 700 wmt remaining in storage at the Goodyear's Cove facility.

Ming stared commercial production in November 2012.

Broker Cantor has a target price of 24p based on a cash flow scenario and and financial multiples from the peer group. Shares eased 9% to 2.28p.

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