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(RMM.L) Rambler Metals and Mining PLC Buy/Sell
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| Date/Time | Headline | Source |
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| 04-03-10 | RNS |
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March 4th, 2010
RAMBLER METALS AND MINING
Rambler Metals & Mining PLC ('Rambler'), (TSX-V:RAB), (AIM:RMM) is pleased to announce that it has entered into an agreement with Sandstorm Resources Ltd. (TSX-V:SSL) to sell a portion of the life-of-mine gold production from its Ming Copper-Gold Mine, located in Baie Verte, Newfoundland. Under the terms of the agreement Sandstorm Resources will make staged upfront cash payments for the gold to Rambler totalling US$20M. The 'First Deposit' of US$5M is available to Rambler immediately. The 'Second Deposit' of US$2M is available to Rambler upon completion and delivery to Sandstorm Resources of a satisfactory NI43-101 Feasibility Study, which Rambler anticipates completing in 2Q 2010. The 'Third Deposit' of US$13M is available to Rambler upon award of all necessary permits for the Ming Mine anticipated in 3Q 2010. In return, Sandstorm Resources will be entitled to 25% of the first 175,000 ounces of payable gold and thereafter 12% of all payable gold produced from the Ming Mine. The initial term of the agreement is for 40 years and is renewable thereafter by Sandstorm for successive 10 year periods. During negotiations Casimir Capital LP acted as agent for Rambler and is entitled to a 4.5% cash commission to be paid with each Deposit tranche pursuant to an agreement dated February 4, 2010. George Ogilvie, President and CEO of Rambler commented: "We are extremely pleased to have signed this agreement with Sandstorm Resources. The agreement represents an attractive source of funding for Rambler allowing us to bring the Ming Mine into production while still giving Rambler shareholders full upside exposure to 100% of the copper, silver and the majority of the gold production at the Ming Mine." For further information, please contact:
Tel No: 709-532-4990
Website: www.ramblermines.com 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. About Rambler Rambler was founded in 2004 when Altius Minerals Corporation ("Altius"), a Newfoundland and Labrador resource company, contributed to Rambler's asset base with an option to acquire and develop the Ming Mine. Following the acquisition of the Ming Mine, Rambler, listed on London AIM in 2005 and Toronto TSX-V in 2007. The Ming property had been a former underground copper and gold producing mine that ceased production when the deposit reached a then third party property boundary. This neighbouring property was subsequently consolidated before being brought into Rambler's portfolio. Rambler now owns a 100% interest in the property. The area where the mine is located is a former mining centre and subsequently good existing infrastructure including roads, fresh water, hydro, access to a working port while the town of Baie Verte, population 1,300 is located 17km away. Over the last several years Rambler has been exploring on the property leading to the publication of two NI431-101 resource statements, the discovery of mineralized lenses and the extension of pre-existing mineralized lenses. Today all mineralized lenses remain open in multiple directions while, importantly, the deposit has not been cut-off at depth. The underground workings have been dewatered and services including air, water and electrical re-installed. In October 2009, Rambler purchased an operational gold hydrometallurgical mill, Nugget Pond, which is situated approximately 40km from the Ming Mine. Rambler intends to expand the mill so that is capable of handling massive sulphides from the mine to produce a copper concentrate with gold and silver as by-products as well as recover any free gold. Rambler is about to embark on the construction phase of the project with the intention of bringing the Ming Mine into production in 2011. About Sandstorm Resources Sandstorm Resources Ltd. Is a growth focused resource based company that seeks to complete transactions with companies that have advanced stage development projects or operating mines. By making upfront payments to its partners, Sandstorm receives volumetric production payments (i.e. metal stream deals) on precious metals. Sandstorm helps other companies in the resource industry grow their businesses, while acquiring attractive assets in the process. Sandstorm is focused on low cost operations with excellent exploration potential and strong management teams. Sandstorm has completed volumetric production payments with Luna Gold Corp, SilverCrest Mines Inc., Santa Fe Gold Corporation and Rambler Metals & Mining PLC. For more information visit: www.sandstormresources.com 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 management's expectations or estimates of future performance constitute "forward-looking statements." Such forward-looking statements include, without limitation, estimates regarding timing of future development and production. 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. However, 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, 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, increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operatin 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 Rambler 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 a more detailed discussion of such risks and other factors, see Rambler's latest filings with Canadian securities regulators.
London, England: Muscott House ! 6a Meadrow ! Godalming, Surrey ! GU7 3HL ! T.+44(0) 1483 419942 ! F.+44(0) 1483-
Rambler Metals & Mining Plc More |
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| 15-02-10 | RNS |
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FOR: RAMBLER METALS & MINING PLC TSX VENTURE SYMBOL: RAB AIM SYMBOL: RMM February 15, 2010 Rambler Metals and Mining Plc Appointment of Joint Broker LONDON, UNITED KINGDOM--(Marketwire - Feb. 15, 2010) - The Board of Rambler Metals and Mining Plc (TSX VENTURE:RAB)(AIM:RMM) is pleased to announce that it has appointed Seymour Pierce Limited as joint broker to the Company alongside Ocean Equities Ltd with immediate effect. Seymour Pierce Limited already acts as the Company's Nominated Adviser. FOR FURTHER INFORMATION PLEASE CONTACT: Rambler Metals and Mining Canada Limited George Ogilvie, P.Eng. President and CEO 709-532-4990
OR Rambler Metals & Mining Plc Leslie Little Company Secretary +44 (0) 14-8341-9942 www.ramblermines.com
OR Seymour Pierce Limited Nandita Sahgal +44 (0) 20-7107 8000
OR Pelham Bell Pottinger Klara Kaczmarek +44 (0) 20-7337-1524 Rambler Metals & Mining Plc More |
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| 26-01-10 | RNS |
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26th January 2010
AT THE NUGGET POND GOLD MINE LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND and LABRADOR: Rambler Metals & Mining PLC (TSX VENTURE:RAB) (AIM:RMM) is pleased to announce that, following the recent purchase of the Nugget Pond gold facility, it will be investigating the resource potential within the 140L mining lease.
HIGHLIGHTS
George Ogilvie, President and CEO commented,
"The possible uncovering of gold resources at Nugget Pond represents an exciting opportunity for
provide some self funding opportunities towards our Project Financing." The recent purchase of the Nugget Pond gold facility on the Baie Verte Peninsula, Northeastern Newfoundland (see Company press release October 27, 2009) has prompted the Company to evaluate the potential of any remaining resources within the 140L mining lease. Both the mine and the mill are located within the 100% owned Nugget Pond Property. The mill itself is currently under care and maintenance while the Company finalizes engineering design for the expansion of a copper floatation circuit. The Nugget Pond Gold Mine began commercial production in April 1997 at a milling rate of 350 mtpd and was later optimized to 500 mtpd. After four years of profitable operations, production ceased in August 2001 due to depleting reserves and depressed gold prices. During operations the deposit produced a total of 168,748 ounces of gold from 487,765 tonnes of ore grading approximately 10.76 g/t. The facility surpassed all expectations by running continuously at 98% availability with an average recovery of 95%. Since its initial startup in 1997 the mill has seen ore from three other gold deposits with almost 1.5 million tonnes of ore processed over its life to date.
RESOURCE POTENTIAL Upon review of the digital database compiled during the mines closure, Rambler has estimated an exploration target of 13,000 to 15,000 ounces of gold contained within 50,000 to 66,000 tonnes grading at 7 to 9 g/t gold. Rambler cautions that the estimated tonnes and grade are conceptual in nature and are based on previous diamond drilling results that defined the length, thickness, depth and grade of the original resource and reserve estimate. Since the initial closure of the mine limited exploration has been completed on the property and Rambler cautions that there is a risk that further exploration will not result in the delineation of a new resource. The estimated tonnage remaining is contained within the Main Zones, the Crown Pillar and the Footwall Zone of the mine. The crown pillar itself contains between 5,000 and 10,000 tonnes of ore grading between 8 to 9 g/t Au. The pillar is easily accessible by way of the underground ramp, which is now flooded and would require minimal dewatering and rehabilitation, however the pillar is also amenable to open pit mining and further work evaluating this scenario is ongoing. The Footwall Zone, which contains the bulk of the estimated tonnages, requires additional delineation drilling. Exploration mining of the Footwall zone occurred on two levels in 2001 and defined at least 3 contrasting styles of gold mineralization. Unfortunately premature closing of the mine and a lack of understanding of controls on mineralization did not adequately define the strike and extent of the Footwall Zones.
FUTURE PLANS The exploration target at Nugget Pond is considered by Rambler to be highly prospective. With an operating mill onsite, the present market price of gold and the potential for underexplored resources, Rambler considers Nugget Pond to be an asset of significant value. Rambler intends to complete an engineering and resource study of the Nugget Pond gold deposit to evaluate the full potential of the property. The fact that the crown pillar is accessible from surface and sits within 100m of the mill and primary crusher should allow for a low capital cost investment, minimal operating costs and a quick start up. For further information, please contact:
Tel No: 709-532-4990
Guy Wilkes Ocean Equities Limited Tel No: +44 (0) 20 786 4370 Website: www.ramblermines.com 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 are dry metric tonnes. Grade and tonnages reported are non-NI43-101 compliant and cannot be relied upon in anyway. Rambler cautions that there is a risk that further exploration will not result in the delineation of a new resource. 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. About the Company Rambler was founded in 2004 when Altius Minerals Corporation ("Altius"), a Newfoundland and Labrador based resource company, contributed to the Company's asset base an option to acquire and develop the Rambler property. The Ming property had been a former underground copper and gold producing mine that ceased production when the deposit reached a then third party property boundary. This neighbouring property was subsequently consolidated before being brought into the Company. The Company now owns a 100% interest in the property. Recently, the purchase of the Nugget Pond milling facility has allowed the company to accelerate its plans to bring the former producing Ming mine back into production. The Nugget Pond mill has been in operation as recently as December 2009 and includes a fully permitted tailings impound. The principal activity of the Group is carrying out development and exploration on the Ming Mine Property, a mineral exploration property located on Newfoundland and Labrador's Baie Verte Peninsula. Rambler Metals & Mining Plc More |
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| 20-01-10 | RNS |
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Rambler Metals & Mining PLC
The Company was notified on 19 January 2010 that, following a disposal of Ordinary Shares on 18 January 2010, Smith & Williamson Investment Management Ltd are interested in 3,569,925 Ordinary Shares representing approximately 4.10% of the issued share capital of the Company. Rambler Metals & Mining Plc More |
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http://www.thetelegram.com/index.cfm?sid=332631&sc=82
'"The price is good. It's going to be a lot better next year, I think. "The big opportunity we have right now is ... we just signed a deal about two weeks ago with Rambler. We'll supply the mill feed and they'll mill it and recover the gold for us."' |
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| Tue 04:07 |
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Have a read
http://www.proactiveinvestors.co.uk/companies/news/8331/rambler-metals-and-mining-extends-gold-exploration-footprint-near-ming-copper-gold-mine-8331.html "The first property is The Deer Cove Deposit, owned by the Tenacity Gold Company, a privately owned explorer. Rambler has signed a confidentiality agreement with Tenacity Gold Mining Company Ltd to evaluate the potential of developing the Deer Cove deposit. The Deer Cove deposit consists of auriferous brecciated quartz/sulphide veins, and has been the subject of a number of exploratory tests and bulk samples since the nineteen eighties. The most recent study in 1999 made an incompliant resource estimate of 94,093 tonnes of high grade mineralization at 6.01 grams per tonne. Tenacity has already begun upgrading the historic resource estimates to meet today's NI43-101regulations. Deer Cove is a accessible to trucks and located within 10Km from Rambler’s Ming Mine and 50km away from the Nugget Pond facility. According to today’s statement Rambler is confident that the deposit can be brought into production quickly with minimum expenditure." http://ca.news.yahoo.com/s/cbc/100315/canada/canada_newfoundland_nl_gold_mines315 "ST..JOHNS (CBC) - A St. John's-based company says it will create 50 short-term jobs when it opens two gold mines on the Baie Verte Peninsula. The Tenacity Gold Mining Company plans to mine the Deer Cove and Stog 'er Tight gold deposits, near Ming's Bight, for six months "We're only talking about 12,000 ounces in total for both deposits so very, very small," said Charles Dearin is the President of Tenacity Gold Mining. Deer Cove is an underground operation. Tenacity says it will use a 225 metre-long tunnel that was carved into a cliff by Noranda more than 20 years ago. Stog 'er Tight is an open pit mine that was active briefly in the 1970s. Dearin says that with the price of gold at more than $1100 an ounce and the availability of the Nugget Pond Mill, on the Baie Verte Peninsula, the company can make a profit on the low-grade deposits." http://www.onenewspage.com/news/Business/20100304/8822772/Rambler-Metals-secures-gold-off-take-from-Sandstorm.htm |
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'The CEO said the Ming Mine copper-gold site is anticipated to be in production by the end of 2011, and the once-flooded mine should be up and running in the first quarter of next year.'
One things for sure, Rambler wont be valued at 30million by then. |
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