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Market: TSX-V, AIM
Sector: General Mining
Epic: RAB
News: Latest news
Web Site: Rambler Metals & Mining
Other Articles: 01-09-201026-08-201010-08-2010

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Thursday September 02, 11:00Baobab Resources identifies distinct ore domain at Tete’s South Zone

Baobab MD Ben James said the latest drilling results from the Tete project's South Zone characterise a distinct, higher mass recovery, ore domain.

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Thursday September 02, 08:15Indonesia edges closer toward uranium mining and nuclear power

After nearly five decades of national debate on the issue, Indonesia's central government may finally be ready to develop a national nuclear policy, which may lead to domestic uranium mining.

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Wednesday September 01, 01:25Green Dragon Gas reports significant growth as China’s thirst for energy continues

China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. In the company's interim results, [...]

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Rambler Metals & Mining

Rambler Metals & Mining

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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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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