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Rambler Metals closes Thundermin acquisition

Gold and copper producer Rambler, yesterday, closed its previously announced acquisition of Thundermin Resources.
Rambler Metals closes Thundermin acquisition
It means Rambler gains full control of the Little Deer and Whales Back copper prospects..

Gold and copper producer Rambler (LON:RMM, CVE:RAB), yesterday, closed its previously announced acquisition of Thundermin Resources (CVE: THR).

First agreed last September, Thundermin shareholders will own 4.7% of the enlarged company and means Rambler gains full control of the Little Deer and Whales Back copper prospects.

Rambler issued around 7.1mln shares to Thundermin shareholders and 183,474 options to previous holders of options of Thundermin.

Norman Williams, president and chief executive of  Rambler said: "Not unlike our own operating Ming Mine, Little Deer and Whales Back operated during a time of much lower copper prices and still contain significant amounts mineral resources.

"Under the guidance of our own management team we will begin evaluating the future potential of these former producing copper assets, with a specific focus on leveraging the infrastructure and experiences developed during the restart of our own Ming Mine.

"We would like to thank Thundermin's management team for their years of dedication in advancing this project and welcome our new shareholders into the company."     

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Newswire
May 04 2016

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