Rambler Metals & Mining PLC Forward Sale on Copper Production (6439I)

TIDMRMM

RNS Number : 6439I

Rambler Metals & Mining PLC

05 December 2022

5 December 2022

Rambler Secures a Forward Sale on Copper Production

London, England - Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (AIM: RMM) ("Rambler" or the "Company"), a copper and gold producer, explorer, and developer, announces it has taken a forward sale position for 550 metric tonnes of copper over a 3-month period (December 2022 to February 2023 inclusive) at a price of US$8,300 per tonne. This is equivalent to approximately 1 month of payable copper production from the Ming Mine over this period, subject to completion of the 2023 budget.

The forward sale position announced today is in addition to the previously announced (15 November 2022) forward sale of 750 metric tonnes of copper over 12 months.

The contracts announced today and on 15 November 2022 set the price for the sale of the described amounts of copper product in the future and the Company will announce the execution of the sales pursuant to these contracts in operational results updates going forward.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

ABOUT RAMBLER METALS AND MINING

Rambler is a mining and development company that in November 2012 brought its first mine into commercial production. Rambler has a 100 per cent ownership in the Ming Copper-Gold Mine, a fully operational base and precious metals processing facility and year-round bulk storage and shipping facility; all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.

The Company has established a production profile to meet current mill capacity of 1,350 metric tonnes per day with a target grade of 2% Cu and is evaluating growth opportunities from that base .

Along with the Ming Mine, Rambler also owns 100 per cent of the former producing Little Deer Complex.

Rambler is listed in London under AIM:RMM.

For further information, please contact:

 
  T oby Bradbury                Celeste Van Tonder          T im Sanford. P. Eng. 
   President and CEO             CFO                         VP & Corporate Secretary 
   Rambler Metals & Mining       Rambler Metals & Mining     Rambler Metals & Mining 
   Plc                           Plc                         Plc 
   Tel No: +1 (709) 800          Tel No: +1 (709) 800        Tel No: +1 (709) 532 
   1929                          1929                        5736 
   Fax No: +1 (709) 800          Fax No: +1 (709) 800        Fax No: +1 (709) 800 
   1921                          1921                        1921 
 
   Nominated Advisor (NOMAD) 
  Ewan Leggat, Caroline 
   Rowe 
   SP Angel Corporate 
   Finance LLP 
   Tel No: +44 (0) 20 
   3470 0470 
 
 
   Website:   www.ramblermines.com

Caution Regarding Forward Looking Statements:

Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute "forward-looking statements". Such forward-looking statements include, without limitation, statements regarding copper, gold and silver forecasts, the financial strength of the Company, estimates regarding timing of future development and production and statements concerning possible expansion opportunities for the Company. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, copper concentrate, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, interpretation and implications of drilling and geophysical results; estimates regarding timing of future capital expenditures and costs towards profitable commercial operations. Other factors that could cause actual results, developments or events to differ materially from those anticipated include, among others, increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operating margins; cash operating cost per pound sold; costs per ton of ore; variances in ore grade or recovery rates from those assumed in mining plans; reserves and/or resources; the ability to successfully integrate acquired assets; operational risks inherent in mining or development activities and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals and environmental protection. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable security law.

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