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Market: AIM
Sector: General Mining
Epic: RMM
News: Latest news
Web Site: Rambler Metals & Mining
Other Articles: 02-02-201026-01-201008-12-2009

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Saturday March 13, 09:47Premium risk at Prudential

Insurance giant Prudential has stolen the headlines this week, after their decision to buy AIA, the Asian life business of US insurer AIG, has attracted a mixed response from shareholders.

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Friday March 12, 01:39Circadian Technologies to present at Ultimate Healthcare & Biotechnology Event, March 24

Robert Klupacs, CEO of Circadian Technologies, recommended by US Investment Bank Merriman Curhan Ford, as "the Cheapest Little Antibody Company on the Planet" will present in Sydney.

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Friday March 12, 08:51White Energy enters coal deal with China Guodian Group

White Energy Company (ASX: WEC; OTCQX: WECFY) has inked a non-binding heads of agreement with state owned Guodian Inner Mongolian Energy Sources Co Limited to develop a coal upgrading [...]

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Rambler Metals & Mining

Rambler Metals & Mining

Rambler Metals and Mining PLC is engaged in the development and exploration programme that the Company is carrying out at the Rambler copper and gold property in the Baie Verte Peninsula of Newfoundland, Canada. The area has a history and culture of gold, base metals and industrial minerals mining. The Rambler property contains the former producing Ming and Ming West Cu-Au mines. In June 2008, the Company released its first NI43-101 compliant resource for the Rambler property.

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Thursday, January 08, 2009

Rambler Metals trims budgets to conserve cash

Rambler Metals & Mining PLC said while it continues with its evaluation of the Ming copper-gold project, it decided to implement the first phase of a cost reduction programme at the mine site, and it has suspended all underground drilling and pre-development. It has laid off 18 employees.


Following a review, the operations at the Ming Mine are to be scaled back in order to preserve working capital ahead of potential project development.  


Technical and management staff are being retained as work continues towards the target of producing a NI43-101 resource update, accompanying technical report and detailed engineering study in Q1 2009.


In the meantime, the underground workings at the Ming Mine are to be put on care and maintenance.


Chief executive George Ogilvie said: “This has been a difficult but essential decision due to the current financial challenges facing our industry.  The company is still committed and confident that a financing can be completed in 2009, however, by implementing this plan, Rambler will be able to care and maintain its high quality asset without requiring any external funding until 2010.”

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