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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.

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Rambler Metals working towards 2011 production at Ming Copper-Gold Mine

8th Dec 2009, 1:09 pm
Rambler Metals working towards 2011 production at Ming Copper-Gold Mine

Duel listed gold and copper junior, Rambler Metals and Mining PLC (TSX-V: RAB, AIM: RMM) (‘Rambler’) updated investors on its operations during the first quarter ended 31st October 2009.  The junior mining company’s principal focus is the development and exploration of the Ming Mine property, located on the Newfoundland and Labrador's Baie Verte Peninsula.

"Rambler had a very successful quarter completing the acquisition of the Nugget Pond Facility and raising
£5.5m in a private placing” Rambler President and CEO, George Ogilvie commented on the project’s on-going development work, “finalising plans to resume exploration and pre-production development and construction so that the Company is on target to bring the Ming Mine back into production during fiscal 2011."

The Nugget Pond mill facility is a fully operational gold hydrometallurgical mill, which includes a gold concentrator. The facility will be adapted to process base metal sulphides from Rambler’s Ming copper mine 40 kilometres away through the addition of a copper flotation circuit, as well as process the free gold that exists in the Rambler geological system.

During the period the Eastern Canada focused mine developer raised £5.5 million before expenses through the issuance of 27.5m ordinary shares at a price of 20p per share. The proceeds of private placing are being used to finance the acquisition and refurbishment of the Nugget pond processing facility, the associated engineering and to cover ongoing working capital requirements.

Rambler is taking proactive steps to explore potential gold prospects in the area surrounding its primary copper-gold operations and the newly acquired Nugget Pond site. During the period it entered into an option agreement with Seaside Realty Ltd to earn up to a 50% undivided interest in the Corkscrew/Big Bear Property.

The Corkscrew / Big Bear property has had sporadic periods of exploration from as early as the nineteen eighties. Approximately 28 diamond drill holes have been completed in the past, intersecting gold mineralization of varying thickness and grades.

The junior mine developer will assume project management of the property for two years, during which time Rambler will be responsible for all geologic compilation and exploration management while Seaside will be responsible for all diamond drilling related costs.

As of 7th December 2009, the junior mining Group has £3.5 million in cash and cash equivalents. 

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