Rambler Metals & Mining PLC Rambler announces update on Fundraising (6183R)
01 July 2020 - 4:00PM
UK Regulatory
TIDMRMM
RNS Number : 6183R
Rambler Metals & Mining PLC
01 July 2020
1 July 2020
Rambler announces update on Fundraising
London, England - Newfoundland and Labrador, Canada - Rambler
Metals and Mining plc (AIM: RMM) ("Rambler" or the "Company"), a
copper and gold producer, explorer, and developer, announces the
following update on the ongoing fundraising.
As previously announced on 2 June 2020, Rambler is currently
progressing an ongoing fundraising to enable expanded production to
1,500 mtpd at 2% copper grade. The Company initially expected this
to be completed by the end of Q2 2020 however it now expects that
this will be completed by the end of July 2020. Discussions with
investors remain at an advanced stage and further updates will be
made as appropriate and there can be no guarantee that a binding
fundraising agreement will be completed.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the
publication of this announcement via Regulatory Information Service
('RIS'), this inside information is now considered to be in the
public domain.
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development company that in November
2012 brought its first mine into commercial production. Rambler has
a 100 per cent ownership in the Ming Copper-Gold Mine, a fully
operational base and precious metals processing facility and
year-round bulk storage and shipping facility; all located on the
Baie Verte peninsula, Newfoundland and Labrador, Canada.
Following the completion of its recent productivity improvement
initiative Rambler's focus is on sustaining mine and mill
production at over 1,350 metric tonnes per day at 2% Copper at the
Ming Mine with a view to increasing this to 1,500 metric tonnes per
day by the end of 2020. With a return to profitability and positive
cash flow, Rambler will continue advancing engineering studies and
capital asset additions to further increase production.
Along with the Ming Mine, Rambler also owns 100 per cent of the
former producing Little Deer/Whales Back copper mines.
Rambler is listed in London under AIM:RMM.
For further information, please contact:
Toby Bradbury Sanjay Swarup T im Sanford. P. Eng.
President and CEO CFO Vice President and
Rambler Metals & Mining Rambler Metals & Mining Corporate Secretary
Plc Plc Rambler Metals & Mining
Tel No: 709 -- 800 Tel No: +44 (0) 20 Plc
-- 1929 7096 0662 Tel No: +1 (709) 532
Fax No: 709 -- 800 Fax No: +44 (0) 20 5736
-- 1921 8609 0313 Fax No: +1 (709) 800
1921
Nominated Advisor and
Broker
Ewan Leggat, Caroline
Rowe
SP Angel Corporate
Finance LLP
Tel No: +44 (0) 20
3470 0470
Website: www.ramblermines.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 the expectations of management or
estimates of future performance constitute "forward-looking
statements". Such forward-looking statements include, without
limitation, statements regarding copper, gold and silver forecasts,
the financial strength of the Company, estimates regarding timing
of future development and statements concerning possible expansion
opportunities for the Company. Where the Company expresses or
implies an expectation or belief as to future events or results,
such expectation or belief are based on assumptions made in good
faith and believed to have a reasonable basis. Such assumptions
include, without limitation, the price of and anticipated costs of
recovery of, copper concentrate, gold and silver, the presence of
and continuity of such minerals at modeled grades and values, the
capacities of various machinery and equipment, the availability of
personnel, machinery and equipment at estimated prices, mineral
recovery rates, and others. 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 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 and the forward-looking
statements contained in this press release are expressly qualified
in their entirety by this cautionary statement. The forward-looking
statements contained herein 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 security law.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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