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Unloved Canadian copper, gold and silver producer Rambler Metals & Mining (RMM) is considering potential funding alternatives in its plan for major expansion at its flagship Ming mine in the Baie Verte peninsula on the country’s north-eastern seaboard after chalking up a hefty C$16.6 million (£7.7 million) loss in the year to July.
Unloved Canadian copper producer Rambler Metals & Mining (RMM) is to take over Thundermin, its 50-50 joint venture partner in the Little Deer and Whaleback copper projects straddling northern Newfoundland and Labrador on the Atlantic coast. This all-share deal follows hard on the heels of a new C$5 million (£2.5 million) offtake agreement for its flagship Ming copper and gold operation in the same region, for whose proposed expansion it hopes to have finance in place this autumn.
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.
Canadian copper and gold miner Rambler Metals & Mining (RMM) has indicated its financial third quarter to April will show a return to overall profitability thanks to the implementation of January’s new mine plan for its Ming copper and gold mine on the Baie Verte peninsula straddling Newfoundland and Labrador on the Atlantic seabord.
Canadian copper and gold miner Rambler Metals & Mining (RMM) is about to begin testing prospects for its major expansion programme at the Ming mine in the Baie Verte Peninsula on Canada’s Atlantic coast in Newfoundland and Labrador. President and chief executive officer Norman Williams says the company, quoted on AIM and the Toronto Venture Exchange, hopes to prolong the life of the mine from six to more than 10 years by developing its Lower Footwall Zone (LFZ), holding a currently estimated 18.2 million tonnes with 1.43% copper.
Canadian copper and gold producer Rambler Metals and Mining (RMM) is expected shortly to please followers with production figures for the year to July close to the top of its guidance range of 200,000 to 220,000 dry metric tonnes of copper from its Ming mine in the north-eastern province of Newfoundland and Labrador. That would represent a 16.4 per cent increase on the previous year, with grades in the region of a decidedly respectable 3.85 per cent. This performance would lend encouragement to the company, listed on AIM and the Toronto Venture Exchange, as it works to expand the formal resource and reserve at Ming and extend its anticipated mine life to 10 years.
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