Rambler Reports Financial Results Period Ended March 31, 2017

BAIE VERTE, NL–(Marketwired – May 25, 2017) – Rambler Metals & Mining PLC (TSX VENTURE: RAB) (AIM: RMM)

TSXV: RAB, AIM: RMM

25 May 2017

Rambler Reports Financial Results Period Ended March 31, 2017

London, England & Baie Verte, Newfoundland and Labrador, Canada – Rambler Metals and Mining plc (TSXV: RAB, AIM: RMM) (‘Rambler’ or the ‘Company’), a copper and gold producer operating in Newfoundland and Labrador, Canada, today reports its unaudited financial results and operational highlights for period ended March 31, 2017 (Q1/17).

PERIOD HIGHLIGHTS

• Production of 75,438 dry metric tonnes (‘dmt’) of ore (Q4/16: 72,036 dmt, Q1/16: 58,362 dmt) a 5% increase on the previous quarter, with copper head grade of 1.13% (Q4/16: 1.36%, Q1/16: 2.28%).
• Production of 2,930 tonnes of concentrate (Q4/16: 3,168 dmt, Q1/16: 4,260 dmt) containing 794 metric tonnes of saleable copper (Q4/16: 850 dmt, Q1/16: 1,107 dmt) and 391 ounces of saleable gold (Q4/16: 865 dmt, Q1/16: 2,096 dmt).
• Revenue for the quarter was US$5.7 million (Q4/16: US$5.4 million, Q1/16: US$7.7 million).
• Average prices for the quarter were US$2.63 per pound of copper (Q4/16: US$2.36, Q1/16: US$2.13) and US$1,211 per ounce gold (Q4/16: US$1,246 Q1/16: US$1,173).
• Operating loss of US$3.5 million (Q4/16: US$3.4 million, Q1/16: US$0.4 million profit) and Earnings before interest, taxes, depreciation, amortisation (‘EBITDA’) of US$(1.5) million (Q4/16: US$(1.0) million, Q1/16: $2.9 million).
• Direct cash costs net of by-product credits (‘C1 costs’) for the quarter were US$3.39 per saleable pound of copper (Q4/16: US$2.99, Q1/16: US$1.39).
• Cash flows (utilized)/generated from operating activities were US$(2.1) million (Q4/16: US$0.2 million, Q1/16: US$2.4 million).

Rambler is dual listed in London under AIM:RMM and in Canada under TSX-V:RAB.

For further information, please contact:

Website: www.ramblermines.com

Click on, or paste the following link into your web browser, to view the associated PDF document.
 http://www.rns-pdf.londonstockexchange.com/rns/1747G_1-2017-5-24.pdf

This information is provided by RNS
The company news service from the London Stock Exchange
END