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Rambler Metals hits another record at Nugget Pond facility

Last updated: 10:51 03 May 2019 EDT, First published: 02:51 03 May 2019 EDT

Rambler
Ore processing recently hit 1,492 tonnes per day

Rambler Metals and Mining PLC (LON:RMM) processed a record level of ore for the second year running through its Nugget Pond facility in Newfoundland.

In total, the facility processed 364,176 dry tonnes in 2018 at a feed grade of 1.24% copper and 0.57 g/t gold.

That averaged out at 1,108 tonnes daily, though recently it achieved a rate of 1,492 tonnes in a day.

Rambler wants to get the average consistently up to 1,250 tonnes per day.

For the 2018 year, Rambler produced 15,525 tonnes of concentrate containing saleable metal of 4,187 tonnes of copper and 4,189oz of gold.

Andre Booyzen, chief executive, said: "2018 was a banner year for operations in several areas, including year-over-year improvements in mine output, mill throughput, concentrate production, and metal recoveries. 

“We are now turning our attention to increasing the overall feed grade delivered to the mill and returning the company to positive cash flows.”

Shares in London surged over 28% to 1.80p. 

 

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