Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Ming upgrade to rejuvenate Rambler Metals and Mining

RMM is continuing to move in the right direction operationally.says Cantor
picture of copper wire
Phase II will production rise to 1,250 tonnes per day.

Rambler Metals and Mining PLC (LON:RMM CVE:RAB) remains on track for a sizeable step-up in production at its Ming mine in Newfoundland over the coming 12 months.

The first quarter saw 794 tonnes of saleable copper and 391 ounces of gold as mill throughput averaged 910 metric tonnes per day, but underground development aims to boost production to 1,250 tonnes per day.

“The primary focus during the second quarter was on the development meters necessary to achieve our longer term mine plan of 1,250 mtpd, with a balance of development and stoping mineralisation,” said chief executive Norman Williams.

Broker confident on direction

Cantor Fitzgerald noted that the miner maintained its full year guidance of 5.1-5.8kt copper and 4.4-5.1koz gold for the full year but that is based on the expectation of a pickup in production in the second half.

Even though Cantor says the first quarter leaves it work to do, it concludes that RMM is continuing to move in the right direction operationally.

“We fully expect the company to reach its Phase II target throughput rate this year and for grades and metal production to improve as the operation stabilises following this expansion phase.”

 “We still see good upside in the Rambler share price, which could be further added to by the other production options management is now evaluating for a possible Phase III development (including pre-concentration of ore and shaft hoisting).”

Buy with a target price of 14p.


View full RMM profile View Profile

Rambler Metals and Mining PLC Timeline

Related Articles

Picture of a copper car
May 01 2018
Based on 2018 projections, Aeris will have reduced debt from US$136 million to US$49 million over the last five years.
reverse circulation drill rig
August 10 2018
The near-term goal at Garden Gully is to deliver a maiden JORC resource.
View of the Senator prospect in mountainous Alaska
March 14 2018
The company is set to release its maiden JORC resource at the Zackly deposit soon.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use