🕐22.03.12 - 08:54 Uhr

RAMBLER INTERIM RESULTS & OPERATIONAL HIGHLIGHTS



RAMBLER METALS AND MINING PLC SECOND QUARTER RESULTS 2012 & OPERATIONAL HIGHLIGHTS
London, England & Baie Verte, Newfoundland and Labrador - Rambler Metals and Mining PLC (TSXV: RAB, AIM: RMM) ("Rambler" or the "Company") today is pleased to report its financial results and operational highlights for the three months ended 31 January 2012.

Over the quarter, the Company successfully moved into production, producing gold during the commissioning and testing of 1806 zone ores, at its 100% owned Ming Copper-Gold Mine in Newfoundlands Baie Verte Peninsula, Canada.
Operational Achievements
* A total of 4,022 ounces of gold were processed from the Ming Mine of which 3,563 ounces were poured and shipped for further refining at an average price of CAD$1,662/oz * Gold recoveries of nearly 91% in the first quarter of gold production * Total of 38,922 tonnes of the gold rich ore were mined with an additional 39,677 tonnes either developed, drilled or blasted * Finalized an off-take agreement for the copper concentrates production from the Ming Mine with Transamine Trading for the sale of 85,000 tonnes of concentrates over the initial 6 year mine life, at international market rates * Draw down of the second installment of CAD$2.5 million from the $10.0 million credit facility issued by Sprott Resource Lending Partnership.

The remaining CAD$2.5 million is available until August 2012
Financial Highlights (All expressed in CAD$)
* Revenue: $2.5 million in Q2 realized on the physical sale of 1,459 ounces of gold produced during the commissioning and testing of 1806 zone ores with an additional $3.6 million realized subsequent to the quarter end on the sale of remaining 2,104 ounces poured and shipped during Q2; all revenues offset against mineral property expenditures ; (Q2 2011: $1.2 million realized on the Groups Tilt Cove satellite deposit) * Net loss: $1,039,000 in Q2 (Q1 2012: $845,000 / Q2 2011: $555,000) including a Foreign Exchange loss of $267,000 resulting from the strengthening of the USD relative to CAD on the translation of the USD gold loan * Cash flows utilized in operating activities: $530,000 in Q2/12 compared to $1,284,000 generated from operating activities in Q1/12 (Q2 2011:cash flows utilized of $979,000) * Cash resources as at January 31, 2012 were $4.0 million (as of March 22, 2012: $7.1 million).

A further $2.5 million is available under the Groups Credit Facility Agreement
Post-period highlights
* On February 8, 2012 the Group announced the purchase of Ming Mines 2% net smelter royalty held by Philippine Metals Inc., formerly Meridian Mining Corporation, for CAD$600,000 to bring the net smelter royalty down to 2.5% from 4.5% * On February 15, 2012 the Group acquired a 17% stake and a board position in Maritime Resources Corp for a total consideration of $1,035,000 * On March 6, 2012 the Group accepted an offer from Tinma International Ltd (Tinma) to become a strategic shareholder for a total cash consideration of $4.58 million, issuing new shares to bring Tinmas total shareholding to approximately 9.9% of the issued share capital * On March 15, 2012 the Group announced a favorable Preliminary Economic Assessment that sees the potential for an expansion of the Ming Mine into the Lower Footwall Zone (LFZ) following additional value optimization studies and later a bankable feasibility study
George Ogilvie, President and CEO, Rambler Metals & Mining commented: "I am pleased to report a successful first quarter of production, producing gold during the commissioning and testing of 1806 zone ores, from our 100% owned Ming Mine.

Bringing this mine into production is a testament to the hard work of all Rambler employees and speaks to the broad success of this team.

While the company enjoys first gold pours and ramping up of production we look forward to the mining of higher grade ore from the 1807 zone while firing up our copper production capacities. The next few quarters will be very significant for Rambler, particularly as we move the Ming Mine into commercial production.

We will seek to continue optimizing the mining and processing of ores while taking a closer look at the LFZ.

Furthermore, we will continue to develop and explore the various zones for additional opportunities. I continue to be optimistic about Ramblers long term strategy to become the regions low-cost producer by continuing to assess opportunities for joint ventures or acquisitions."
Philippe Polman Account Manager Direct line: +44 (0)20 7861 3921 Mobile: +44 (0)7841 672 830 Pelham Bell Pottinger 5th Floor, Holborn Gate, 330 High Holborn, London, WC1V 7QD Tel: +44 (0)20 7861 3232 Fax: +44 (0)20 7861 3233 www.pelhambellpottinger.co.uk
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