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Rambler: a recovery buy if it raises necessary funds

By Robert Tyerman | Thursday 23 July 2015


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


As Canadian copper and gold miner Rambler Metals & Mining (RMM) returns to profits at its Ming mine holding an estimated potential of 1.1 billion lbs. of copper and 365,000 oz. of gold on the Atlantic seaboard, chief executive officer Norman Williams says he is ‘pretty confident’ talks now under way about financing a significant increase in production and grades there will be successful. The company, which is listed on AIM and the Toronto Venture Exchange, wants to secure up to C$25 million (£12.5 million) in the wake of a pre-feasibility engineering study and economic assessment of how to blend ore from Ming’s key lower footwall zone hoist the daily quantity of ore from the mine, on the Baie Verte peninsula straddling Newfoundland and Labrador from 650 tonnes to 1,250 tonnes by 2018.


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