your initial deposit *subject to change and depends on individual circumstances.
Rambler Metals and Mining (AIM:RMM, TSX-V:RAB) is Junior Mining Company that has 100% ownership of the Ming Copper-Gold Mine in Baie Verte, Newfoundland and Labrador, Canada. Rambler is well on the way to becoming a mid-tier mining company through production from Ming Mine, discovering new deposits and through M&A’s. Rambler listed on...Read more
RNS Release - Announces Successful Results of General Meeting
TSX VENTURE SYMBOL: RAB
AIM SYMBOL: RMM
June 28, 2012
Rambler Metals and Mining Announces Successful Results of General Meeting
LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - June 28, 2012) - On 18 May 2012, Rambler
Metals and Mining plc (TSX VENTURE:RAB)(AIM:RMM) ("Rambler" or the "Company") announced that it had entered into a
conditional subscription agreement (the "Subscription Agreement") with Tinma International Limited ("Tinma"), a wholly-
owned subsidiary of a China-based strategic investor, whereby Tinma conditionally agreed to subscribe for 7,118,012
ordinary shares (the "Subscription Shares") at a subscription price of Can$0.58 per ordinary share (approximately GBP
0.36 per ordinary share as at the date of the Subscription Agreement) (the "Subscription") which, if completed, will
raise gross proceeds for the Company of approximately Can$4.13 million (approximately GBP 2.56 million as at the date
of the Subscription Agreement).
The Company is pleased to announce that, at a General Meeting of the Company held today, shareholders approved
resolutions granting authority to the directors of the Company to allot the Subscription Shares and disapply pre-
emption rights in respect of such allotment. The successful outcome of the General Meeting satisfies a major completion
condition of the Subscription Agreement. As well, the Company has received conditional approval for the listing of the
Subscription Shares on the TSX Venture Exchange.
Closing of the Subscription remains conditional upon the terms and conditions of the Subscription Agreement, a copy of
which is accessible under the Company's profile on SEDAR at www.sedar.com, and is expected to occur in July 2012. The
Company will make a further announcement to the market following closing of the Subscription.
Further details regarding the Subscription can be found in the Company's announcement of 18 May 2012.
Rambler Metals and Mining is a Junior Mining Company that has 100% ownership of the Ming Copper-Gold Mine in Baie
Verte, Newfoundland and Labrador, Canada. As a producing gold and copper miner, our objective is to become a mid-tier
mining company by continuing the development of the Ming Mine, discovering new deposits and through mergers and
The initial six years of the Ming Mine project is based on the underground mining of massive sulphides with a mineable
reserve estimate of 1.498 million ore tonnes grading 1.62% copper, 2.40 g/t gold and 10.90 g/t silver (24,252 tonnes of
copper, 115,549 ounces of gold and 525,139 ounces of silver of contained metal). All massive sulphide zones remain open
both up and down plunge with the current exploration program focused on extending the known mineralization for
inclusion in the resource/reserve estimate.
In addition to the outlined reserve estimate there is a sizeable footwall deposit, beneath the massive sulphide
horizon, that has been outlined with a resource grade of 9.85 million tonnes grading 1.70% copper (167,355 tonnes of
contained copper at a 1.25% copper cut-off grade). This zone forms the basis of a preliminary economic assessment,
currently being compiled by the Company, which envisions the Ming Mine transition itself into a bulk tonnage mining
Over the coming months and years, as the Company optimizes the Ming Mine project into cash positive position, future
expansion into the footwall zone will be formalized with the goal of maximizing returns for shareholders and increasing
the life of mine.
Larry Pilgrim, P.Geo., is the Qualified Person responsible for the technical content of this release and has reviewed
and approved it accordingly. Mr. Pilgrim is an independent consultant contracted by Rambler Metals and Mining plc.
All tonnes reported are dry metric tonnes unless otherwise indicated.
Caution Regarding Forward Looking Statements:
Certain information included in this press release, including information relating to future financial or operating
performance and other statements that express the expectations of management or estimates of future performance
constitute "forward-looking statements". Such forward-looking statements include, without limitation, estimates
regarding timing of future development and production and statements regarding the closing of the conditional
Subscription. Where the Company expresses or implies an expectation or belief as to future events or results, such
expectation or belief is expressed in good faith and believed to have a reasonable basis. The expectations and belief
held by management in connection with forward-looking statements are based on a number of factors and assumptions,
including without limitation assumptions regarding general market conditions and the availability of financing. These
factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect
the Company, however, these factors and assumptions should be considered carefully by readers. Forward-looking
statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially
from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not
limited to, the ability of the Company to complete announced transactions; interpretation and implications of drilling
and geophysical results; estimates regarding timing of future capital expenditures; and costs towards profitable
commercial operations. Other factors that could cause actual results, developments or events to differ materially from
those anticipated include, among others, a failure by a party to the Subscription Agreement in meeting its obligations
thereunder or one or more conditions to completing the Subscription not being met or waived, where applicable;
increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operating
margins; cash operating cost per pound sold; costs per ton of ore; variances in ore grade or recovery rates from those
assumed in mining plans; reserves and/or resources; the ability to successfully integrate acquired assets; operational
risks inherent in mining or development activities and legislative factors relating to prices, taxes, royalties, land
use, title and permits, importing and exporting of minerals and environmental protection. Accordingly, undue reliance
should not be placed on forward-looking statements. These forward-looking statements are made as at the date hereof and
the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any
forward-looking statements contained in any other documents whether as a result of new information, future events or
otherwise, except as required under applicable securities law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Rambler Metals and Mining
George Ogilvie, P.Eng.
President and CEO
709-800-1929 or 709-800-1921
Rambler Metals & Mining Plc.
+44 (0) 20 8652-2700
+44 (0) 20 8652-2719 (FAX)
Seymour Pierce Limited
Stewart Dickson / Jeremy Stephenson
+44 (0) 20-7107-8000
Pelham Bell Pottinger
Charles Vivian / Philippe Polman
+44 (0) 20 7861 3921
Ocean Equities Limited
+44 (0) 20-7786-4370
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Rambler Metals & Mining Plc