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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: 0.54  (12.50% Ascending)
52-week High: 0.78
52-week Low: 0.38
Market Cap: 66.58M
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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 says engineering study for Ming Copper-Gold Mine nearly complete

27th May 2009, 1:56 pm
Rambler Metals says engineering study for Ming Copper-Gold Mine nearly complete

Rambler Metals & Mining  (TSXV:RAB & AIM:RMM), which is developing the Ming Copper-Gold Mine in Newfoundland, Canada, said that the underground engineering study incorporating the mine plan, capital program and schedule for building a high grade, low tonnage mine was “close to completion”.


The study is the culmination of a considerable program of exploration and evaluation at the Ming Copper Mine where Rambler has been working diligently to prepare the historical operation for a production restart.


In February, Rambler announced a revised NI 43-101 measured and indicated resource of 3.65 million tonnes @ 2.21% copper, 1.37 grams per tonne gold, 7.86 grams per tonne silver and 0.39% zinc.

There is a further 1.5 million tonnes in the inferred category.  The most significant change in the resource statement and the associated mine plan was the considerably higher gold grades which would support a higher grade, but lower tonnage operation for the first five years before Rambler moves into the lower grade but substantially larger and more copper weighted ore.


Financial highlights for the three months ended 30 April 2008 contained no surprises. Rambler posted a small loss, as expected.  The net cash position as of 26 May 2008 was £1.7 million.


George Ogilvie, President and CEO, said the company was confident that the engineering study would be complete in June:


"Despite having scaled back operations to preserve working capital ahead of potential project development, Rambler is pleased to have updated the NI43-101 compliant resource which improves the initial 5 year mining plan which will target areas of higher grade mineralization.


"Management are currently evaluating a number of options for financing and are confident that the completion of the underground Engineering Study in June will further demonstrate the long term economic viability of the Project."


Seymour Pierce, Rambler’s house broker in London, said it was awaiting the results of the study with interest, and reiterated its ‘buy’ stance on the company.

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