Rambler Metals & Mining Share Discussion Threads

[bmnsa] 15/4/2019 15:57

Looking at my notes,this is one that didn't perform for me in the long distant past,but am willing to dip my toe back in the water
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Found the below in my notes.



Resource Investor
7 April 2005

Rambler Has High Hopes for Canadian Copper-Gold Project
By Stephen Clayson
07 Apr 2005 at 09:18 AM EDT
LONDON (ResourceInvestor.com) -- A new base metals focused junior company, Rambler Mining & Metals (AIM: RMM), begins trading tomorrow in London. The company’s initial project is the eponymous Rambler copper-gold property, located on the Baie Verte peninsula in Newfoundland and Labrador, Canada.
The property includes the previously producing Ming and Ming West mines, which closed during the 90s due to a property dispute. A mineral resource remains of approximately 400,000t at grades of around 3.5% copper and 2.5g/t gold, according to Rambler’s Chairman Harry Dobson.
The results of recent exploration by previous owner Altius (TSX-V: ALS), including four drill holes, suggest that a sizable extension may exist to the Ming deposit, and that the underlying Ming footwall zone could also prove also economically significant. Altius’ base of knowledge regarding the property is not to go to waste, as the company will be conducting further exploration on Rambler Mining’s behalf.
A pre feasibility biased drilling programme has now commenced on the property, and is provisionally scheduled for completion in around 16 months, by which time 28-30,000m will have been drilled and C$4.5m spent at the property. Dewatering of the old Ming mine has begun in addition to work on new exploration and development drifts that will be used to attempt the delineation of new resources.
The true resource potential of the Rambler property above and beyond what has already been outlined is as yet unclear, with the possibility that new exploration may reveal the existence of a massive sulphide ore body.
As currently planned for and assuming a massive sulphide deposit is not delineated, Rambler envisages the possibility of a 1500t/day mining operation yielding approximately 40-50,000oz/yr gold and 100mlb/yr copper. Broadly speaking, Dobson says that this kind of operation could perhaps be established for around C$40m. Mine development economies could be derived from the prior existence of a mill on the property, and from raising shafts upwards from existing workings, which is faster and cheaper than sinking them from ground level as is usually necessitated.
Though schedules for projects of this type are obviously subject to change dependent on the results obtained moving forward, hypothetically, and if all goes to plan with the exploration programme, Dobson believes that a mine could be established on the property in around 30 months, with a feasibility study completed within 24 months.
Dobson sees Rambler’s corporate strength as encompassing a broad spectrum of industry experience, including a strong exploration team supplied by Altius, the Rambler directors’ mine development and financing experience and CEO Stanley Neamonitis’ downstream marketing background. Dobson himself is also Chairman of Canadian mine rejuvenation success story Kirkland Lake Gold, and former Chairman of American Pacific Mining.
The company expects the copper market to remain strong, and hence supportive of the development case for the Rambler property. This seems an increasingly likely scenario, with Chinese demand still outpacing supply and LME monitored copper stockpiles continuing to decline markedly since the beginning of this year.
Rambler is placing 16m shares at 50p, raising a total of £8m to fund its ambitions. The company remains acquisitive and open to new opportunities, though intends to restrict itself geographically to North and Central America, where the management have gained most of their experience and where mining conventions are generally well established. But for now, the company’s focus is on its namesake property.

[bmnsa] 15/4/2019 15:33

The spread is very off putting

[bmnsa] 15/4/2019 14:43

Looking into it:)

[excellance] 15/4/2019 09:40

Surely now is the time to buy, after raising £9m by open offer?

[excellance] 19/2/2019 22:13

Is now the time?

[excellance] 02/10/2018 08:44

look at that trend line, from 12.5p down to 3p and a mkt cap of about £20m

they appear to be saying that RMM are toast...yet only a few months ago they raised £2.2m and obviously the lender must have been happy with the arrangement.

if yesterdays drilling results were as good as they say then they should be on the PR trail pretty soon.

[excellance] 02/10/2018 05:31

Here's the explanation of why costs were $3.66 in the most recent interims against $2.44 a year earlier...

Cash production expenses in Q2/18 were in-line with the previous quarter and rose $1.3 million over the same quarter in 2017. This rise was due to:

o Mining and processing 8 thousand more tonnes of ore in the current period than in the previous period;

o A weakening of the Canadian Dollar against the US Dollar;

· An increase in G&A expenses from $900 thousand to $1.6 million which includes $0.6 million in one-time expenditures for the productivity improvement initiative;

· The impact of the increased expenditures on cost per pound saleable copper was exacerbated by the abnormally low copper grade in the second quarter, which resulted in lower copper production than in the year ago quarter despite higher ore throughput;


So the amount of muck shoveled increased quite a lot, about 10% more, but grades recovered were lower, and exchange rates went against revenues expressed in Canadian dollars...then add a $1.6m efficiency project which will only bear fruit in future years...

Now, the dollar has likely peaked, the price of copper is set to rise, as are grades recovered, and, hopefully, the plant will operate more efficiently following recent improvements..

Has the worm turned?

Time will tell.

[excellance] 02/10/2018 02:29

Up 19% in Toronto tonight, only up 9% on LSE yesterday, but then the Canadians know their stuff about mining...

[the deacon] 01/10/2018 16:54

Need a profitable copper operation first before anything else.

[excellance] 01/10/2018 16:44

o R18-722-01 - 19.0 meters of 4.1% copper with 2.8 g/t gold

o R18-722-02 - 7.3 meters of 2.8% copper with 0.73 g/t gold

o R18-722-12 - 25.5 meters of 9.4% copper with 5.1 g/t gold

o R18-722-15 - 17.0 meters of 3.1% copper with 2.3 g/t gold

[excellance] 01/10/2018 16:44

I was more interested in the higher gold grades in today's rns...adds valuable credits.

[the deacon] 01/10/2018 16:36

It's a gamble, yes. They may well be able to get costs under control, but then again maybe they won't. There's plenty of other cheap copper producers that aren't as much of a gamble. I guess what I'm saying is RMM may (or may not) be worth a punt.

[excellance] 01/10/2018 16:31

Isn't that why they raised £2.2m six months ago?

So they raised money to improve the efficiency of the mine, prove up more resources to extend life of mine, and over this year improve outlook generally.

What you suggest is that costs are out of control, the copper price will not be high enough in the foreseeable future and rambler are doomed.

So this is a recovery gamble really.

[the deacon] 01/10/2018 16:20

That's great, but the C1 costs this year have been between 3.99 and 3.66. So quire some way to go yet to make a profit.

[excellance] 01/10/2018 16:09

Rambler Base all predictions on copper at $2.99 and 2017 saw prices above that, but currently we are at about 2.75, but I think the trend is for copper to go higher, and I expect it to be $3 by Xmas and 3.50 in a year, and rambler will be just fine.

[the deacon] 01/10/2018 10:18

#profitably

[the deacon] 01/10/2018 10:18

Trouble is they can't get it out of the ground profitability at the moment

[excellance] 01/10/2018 08:32

Don't know much about these other than they mine in Canada and the share price is low at the moment, and, today they released what look like decent to very good drilling results, deep, but only a bit deeper than they are already mining.

[excellance] 01/10/2018 07:34

You can say that again..

[adorling] 01/10/2018 07:06

This is a strong RNS:
"The latest underground diamond drilling in the Ming North Zone has returned some of the thickest massive sulfide mineralization and highest copper and gold grades encountered on the property to date. With the top of this mineralization only 65 meters from existing development, this area provides a tremendous opportunity for the Company to bring a significant amount of higher grade material into the mine plan and mill feed in 2019. The potential exists to extend the Ming North body even deeper with continued drilling.“

[adorling] 01/10/2018 07:03

This is a strong RNS:
"The latest underground diamond drilling in the Ming North Zone has returned some of the thickest massive sulfide mineralization and highest copper and gold grades encountered on the property to date. With the top of this mineralization only 65 meters from existing development, this area provides a tremendous opportunity for the Company to bring a significant amount of higher grade material into the mine plan and mill feed in 2019. The potential exists to extend the Ming North body even deeper with continued drilling.“

[chipperfrd] 10/9/2018 10:27

Thank you for the research piece Adorling. Much obliged!

[adorling] 07/9/2018 19:17

I bought in today 2 x 250k buys given the future copper squeeze and deficits evident to see coming. Strong reasearch write up from Arden.

[owenga] 31/7/2018 07:16

That's the first vaguely positive rns I have seen for years.. not got shares any more, but thinking of buying some again.