Sign up Australia
Proactive Investors - Run By Investors For Investors

Ming upgrade to rejuvenate Rambler Metals and Mining

RMM is continuing to move in the right direction operationally.says Cantor
picture of copper wire
Phase II will production rise to 1,250 tonnes per day.

Rambler Metals and Mining PLC (LON:RMM CVE:RAB) remains on track for a sizeable step-up in production at its Ming mine in Newfoundland over the coming 12 months.

The first quarter saw 794 tonnes of saleable copper and 391 ounces of gold as mill throughput averaged 910 metric tonnes per day, but underground development aims to boost production to 1,250 tonnes per day.

“The primary focus during the second quarter was on the development meters necessary to achieve our longer term mine plan of 1,250 mtpd, with a balance of development and stoping mineralisation,” said chief executive Norman Williams.

Broker confident on direction

Cantor Fitzgerald noted that the miner maintained its full year guidance of 5.1-5.8kt copper and 4.4-5.1koz gold for the full year but that is based on the expectation of a pickup in production in the second half.

Even though Cantor says the first quarter leaves it work to do, it concludes that RMM is continuing to move in the right direction operationally.

“We fully expect the company to reach its Phase II target throughput rate this year and for grades and metal production to improve as the operation stabilises following this expansion phase.”

 “We still see good upside in the Rambler share price, which could be further added to by the other production options management is now evaluating for a possible Phase III development (including pre-concentration of ore and shaft hoisting).”

Buy with a target price of 14p.


View full RMM profile View Profile

Rambler Metals and Mining PLC Timeline

Related Articles

A vanadium ore stockpile at Nelly
August 31 2018
The country’s favourable regulatory system enables faster turnaround of legacy mining rights.
Drilling rig at Mt Venn project
May 09 2018
The project is 30 kilometres west of the Gruyere gold deposit in the Eastern Goldfields district of Western Australia.
man standing in front of piles of bauxite ore
September 06 2018
Metro is targeting around two million tonnes of production this calendar year.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use