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Additional Information
Market: TSX-V AIM
Sector: General Mining
EPIC: RAB
Latest Price: 0.51  (-1.92% Descending)
52-week High: 0.65
52-week Low: 0.38
Market Cap: 68.97M
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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.

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Rambler Metals signs first copper off-take agreement for Ming mine

9th Jan 2012, 10:18 am by Andre Lamberti
This is Rambler’s first off-take agreement and ensures that all of Rambler's copper concentrate will be sold at international market rates This is Rambler’s first off-take agreement and ensures that all of Rambler's copper concentrate will be sold at international market rates

Rambler Metals and Mining (LON:RMM, CVE:RAB) has signed an off-take agreement for its copper concentrate production from the Ming copper-gold mine with Transamine Trading.

This is Rambler’s first off-take agreement and ensures that all of Rambler's copper concentrate will be sold at international market rates.

This is a further milestone in the development of the operation on Newfoundland and Labrador's Baie Verte Peninsula, Canada, following the first gold pour there in mid-December 2010. Revenues from gold sales are expected to start coming in early this year.

It also announced the completion of the copper concentrator plant.

The agreement announced today will see the sale of 85,000 tonnes of copper concentrate from the Ming mine to Transamine over an initial six year period and includes a provisional payment for concentrate as it arrives at the Goodyear's Cove port facility.

This is of particular importance to Rambler as it will ensure steady cash flow to the company as soon as concentrate production begins in the second quarter of 2012, it said in a statement.

President and chief executive George Ogilvie said: “In the coming months, once concentrate production begins, the first ore to be mined will be from the high grade 1807 Zone. With a measured and indicated resource of 432,000 tonnes grading 3.86 percent copper, 1.75 grammes per tonne gold and 7.18 g/t silver, concentrate produced from this zone will greatly assist Rambler's immediate cash flow.”

Transamine Trading is a well known international trading company based in Geneva, Switzerland, that has particular expertise in the trading of base metal ores and concentrates.

It is a full service company providing worldwide raw material sourcing, marketing, finance and investment. Founded in 1953, its core business is trading non-ferrous base metal ores and concentrates as well as tin, cobalt, nickel, precious metals, related by-products and residues.

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