Newfoundland (FSCwire) - Rambler Metals and Mining plc (TSXV: RAB, AIM: RMM) ("Rambler" or "the Company"), a copper and gold producer, explorer, and developer is pleased to announce that for the fiscal year ending December 31, 2017 it achieved a record annual throughput by processing 339,631 tonnes of ore from the Ming Mine through the Nugget Pond copper and gold milling facility. A total of 3,968 tonnes of saleable copper and 3,357 ounces of gold were produced from this throughput.
Norman Williams, President and CEO, commented:
"I would like to thank each Rambler employee and contractor for their outstanding efforts, patience and achievements during 2017. In the last 17 months, we have nearly doubled the production rate at both the mine and the mill. This growth in production has been completed with safety at the forefront which is evident by the 2,310 days without a lost time accident and 1,114 days since its last medical aid. We appreciate your continued efforts as we work towards completing our Phase II transformation.
"The mine is now averaging ~1,118 tonnes of ore per day from the underground, with the mill hitting peak production as high as 1,360 mtpd while maintaining high copper recovery. Ore stockpiles at each site continue to be modest pending completion of the surface ventilation project. This project is on the critical path and targeting completion in March. Once finished the mine's ventilation system will be reversed allowing for increased capacity and improved cycle times thereby boosting the overall throughput from the mine.
"Given the productivity improvements just around the corner we are now turning our attention to increasing the overall feed grade being delivered to the mill and returning the Company to positive cash flows during a time that has seen significant run up in, and positive outlook, on long term copper and gold price forecasts. The Company expects to complete its Phase II expansion with sustained production of 1,250 tonnes per day mining and milling towards the end of the first quarter, 2018."
