Rambler Metals & Mining PLC announces Interim Results
Baie Verte, Newfoundland and Labrador (FSCwire) - Rambler Metals and Mining plc (TSXV: RAB, AIM: RMM) (‘Rambler’ or the ‘Company’), a copper and gold producer operating in Newfoundland and Labrador, Canada, today reports its financial results and operational highlights for the quarter ended June 30, 2018.
Quarter Highlights
- Mill throughput of 94,589 dry metric tonnes (‘dmt’) of ore (Q1/18: 83,017 dmt, Q2/17: 86,895 dmt) with copper head grade of 1.12% (Q1/18: 1.07%, Q2/17: 1.41%);
- 3,643 tonnes of copper concentrate produced with grade of 28% (Q1/18: 28%, Q2/17: 27%);
- Revenue was US$8.1 million (Q1/18: US$6.2 million, Q2/17: US$6.9 million), the highest since Q4/17;
- Direct cash costs net of by-product credits (C1 costs) for the quarter were US$3.66 (Q1/18: US$3.99, Q2/17: US$ 2.44);
- Operating loss of US$3.4 million (Q1/18: US$4.4 million, Q2/17: US$2.3 million) and Earnings/(losses) before interest, taxes, depreciation, amortisation (‘EBITDA’) of US$(1.4) million (Q1/18: US$(3.3) million, Q2/17: US$1.2 million);
- During Q2/18 the Company received US$7.3 million from the issue of shares from the exercise of 65 million warrants and the issue of 44.4 million shares from a private placement;
- Commenced a productivity improvement initiative in the mine, with assistance from a third party consultant. The twenty-four week initiative is focused on productivity and efficiency improvements in three main areas: mine planning, mine operations and mine mobile equipment maintenance. The commitment of the project is to return the mine to profitability and positive cash flow at the nominal 1,250 dry tonnes per day processing rate.
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For further information, please contact:
| Norman Williams, CPA,CA President and CEO Tel No: 709-800-1929 Fax No: 709-800-1921 | Peter Mercer Vice President, Corporate Secretary Tel No: +44 (0) 20 8652-2700 Fax No: +44 (0) 20 8652-2719 |
| Nominated Adviser (NOMAD) | Investor Relations |
| David Porter, Peter Malovany Cantor Fitzgerald Europe Tel No: +44 (0) 20 7894 7000 | Nicole Marchand Investor Relations Tel No: 416- 428-3533 Nicole@nm-ir.com |
Website: www.ramblermines.com
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Source: Rambler Metals and Mining plc (TSX Venture:RAB, AIM:RMM, OTC Pink:RBMTF, FWB:51R)
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