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Additional Information
Market: TSX-V AIM
Sector: General Mining
EPIC: RAB
Latest Price: 0.54  (5.88% Ascending)
52-week High: 0.65
52-week Low: 0.38
Market Cap: 73.03M
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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 and Mining draws down C$2.5 million

31st Jan 2012, 8:19 am by Jamie Ashcroft
Rambler began pouring gold last month and it expects to start producing copper concentrate in the second quarter Rambler began pouring gold last month and it expects to start producing copper concentrate in the second quarter

Rambler Metals and Mining (LON:RMM, CVE:RAB) today confirmed a that it has made a C$2.5 million draw down from a credit facility.

The secured credit facility is being provided by the Sprott Resource Lending Partnership. 

In September it was agreed that Rambler could draw down up to C$10 million from the credit facility. 

It has already drawn down C$5 million, and today’s transaction takes the tally to C$7.5 million.

Rambler plans to use the money to buyout the royalty that is held over its flagship Ming Mine property, on Baie Verte Peninsula in Canada.

Earlier this month Rambler said it expects to start producing copper concentrate from the mine in the second quarter of this year.

In the meantime, it is generating revenue with continuing gold pours.  The first dore bars were produced last month and to date, Rambler has completed three gold pours for a total of 2,446 ounces.

The next pour is scheduled for January 31 and every two weeks thereafter.

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