Rambler Metals' development of Ming copper-gold mine on track

Rambler Metals & Mining reported a year of signimolinos para la construccionficant progress as it confirmed it is on target to bring the Ming copper-gold mine in Canada into production next year. Key to achieving this goal is the Nugget Pond production facility, which Rambler bought from Crew Gold last year.

It is being developed to handle ore from Ming, which is 40 kilometres away on the Baie Verte Peninsula, Canada. Meanwhile, a feasibility study on Ming published in August revealed it will produce operating cashflow of US71 million, which gives a net present value for the mine of US14.3 million, discounted at 6 per cent. Initial capital costs are projected at US$25.5 million with sustaining capital estimated at US$27.9 million. After two fundraisers to bankroll the development of its Nugget Pond production facility, the group has C$8 million, up from C$2.1 million a year earlier. Rambler updated the market on its cash position in full-year results published this morning. They also showed the company posted a post tax loss of C$2.4 million, up from C$2.05 million previously...