This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Rambler Metals loses 1.07 million pounds in 2009 2009-10-28 10:50 ET - News Release Mr. George Ogilvie reports RAMBLER METALS AND MINING FINANCIAL RESULTS YEAR ENDED 31 JULY 2009 Rambler Metals and Mining PLC has released its financial results and operational highlights for the year ended July 31, 2009. The principal activity of the Company is carrying out development and exploration on the Rambler property, a gold and copper property located on Newfoundland and Labrador's Baie Verte peninsula. Operational highlights: - Underground development continued to provide access for preproduction of the Ming mine and to provide platforms for exploration drilling;
- The release of an updated National Instrument-43-101-compliant resource at the Ming mine estimating an equivalent of 80,823 tonnes of contained copper, 161,335 ounces of contained gold and 922,107 ounces of contained silver in the measured and indicated categories with a further 25,836 tonnes of contained copper, 98,740 ounces of contained gold and 450,673 ounces of contained silver in the inferred category. This resource update increased in the higher-grade gold-rich massive sulphides and was concluded using a commodity price of $1.92 per pound Cu, $800 per ounce Au and $10 per ounce Ag;
- Metallurgical testing on the 1807 zone was completed with copper-concentrate grade averaging 29.1 per cent and average copper recovery at 92.4 per cent with a range between 88.4 per cent and 97 per cent. Precious metal recovery of 67.5 per cent gold and 52.5 per cent silver within the copper concentrate. Further metallurgical testing is planned to optimize the recovery of precious metals, including any "free gold";
- Exploration drilling continued until Jan. 7, 2009. During fiscal 2009, a total of 5,642 metres were drilled (2008 -- 25,323 metres). Primary drilling was carried out on the newly discovered 1806 zone. Drilling was reduced due to a cost-reduction program to preserve working capital;
- Completion of an underground engineering study by CSI Mining and Engineering Inc., incorporating a mine plan, schedule and capital program for the first seven years of the mine. This study formed the basis for the preparation of a business plan for the group.
The remainder is available to Stockwatch subscribers.
If you would like to give the Stockwatch system a try,
click here for a free 30 day trial subscription. |
Top
Print this Page