The company’s internal sampling estimates an average grade for the shipment of 27 per cent copper, 12 grams per tonne gold and 87 grams per tonne silver.
The company said by concentrate standards this is a high quality product with little in the way of deleterious materials.
This is the 11th shipment completed to date since declaring commercial production, bringing the total concentrate delivered to about 70,000 wmt. Following the shipment, the company had about 200 wmt of concentrate in storage at its Goodyear’s Cove Facility.
New agreement
The company also reported its operating subsidiary, Rambler Metals and Mining Canada, has entered into an amended and restated purchase agreement with Transamine Trading S.A. wherein Rambler has extended its off-take agreement with Transamine with respect to concentrate from the Ming Copper-Gold Mine until Dec. 31, 2021.
The advance purchase payments will be used for working capital requirements along with the development and construction of Rambler’s Lower Footwall Zone optimization plan (Phase 2) at the Ming Mine.
Proposed merger
Upon completion of the merger, the current Rambler shareholders will hold about 95.3 per cent of the outstanding shares of Rambler and the current Thundermin shareholders will hold about 4.7 per cent of the outstanding shares of Rambler.
On Sept. 1, Rambler Metals and Mining signed a nonbinding letter of intent with Thundermin Resources Inc. which sets out the principal terms upon which Thundermin will amalgamate with a wholly-owned subsidiary of Rambler.
Upon completion of the merger, the current Rambler shareholders will hold about 95.3 per cent of the outstanding shares of Rambler and the current Thundermin shareholders will hold approximately 4.7 per cent of the outstanding shares.
The merger will result in the consolidation in one corporate structure of the assets of both companies, including the Little Deer and Whalesback Copper Deposits located in the Springdale area of north-central Newfoundland and Labrador, which are currently jointly owned on a 50/50 per cent basis by Thundermin and Rambler, and Rambler’s nearby existing copper mining operations on the Baie Verte Peninsula.
Rambler is a mining and development Company that in November 2012 brought its first mine into commercial production.
The group 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.
In addition to the Ming Mine, Rambler has strategic investments in the former producing Hammerdown gold mine, the Little Deer/ Whales Back copper mines and the advanced Valentine Lake Gold Project.
The company’s internal sampling estimates an average grade for the shipment of 27 per cent copper, 12 grams per tonne gold and 87 grams per tonne silver.
The company said by concentrate standards this is a high quality product with little in the way of deleterious materials.
This is the 11th shipment completed to date since declaring commercial production, bringing the total concentrate delivered to about 70,000 wmt. Following the shipment, the company had about 200 wmt of concentrate in storage at its Goodyear’s Cove Facility.
New agreement
The company also reported its operating subsidiary, Rambler Metals and Mining Canada, has entered into an amended and restated purchase agreement with Transamine Trading S.A. wherein Rambler has extended its off-take agreement with Transamine with respect to concentrate from the Ming Copper-Gold Mine until Dec. 31, 2021.
The advance purchase payments will be used for working capital requirements along with the development and construction of Rambler’s Lower Footwall Zone optimization plan (Phase 2) at the Ming Mine.
Proposed merger
Upon completion of the merger, the current Rambler shareholders will hold about 95.3 per cent of the outstanding shares of Rambler and the current Thundermin shareholders will hold about 4.7 per cent of the outstanding shares of Rambler.
On Sept. 1, Rambler Metals and Mining signed a nonbinding letter of intent with Thundermin Resources Inc. which sets out the principal terms upon which Thundermin will amalgamate with a wholly-owned subsidiary of Rambler.
Upon completion of the merger, the current Rambler shareholders will hold about 95.3 per cent of the outstanding shares of Rambler and the current Thundermin shareholders will hold approximately 4.7 per cent of the outstanding shares.
The merger will result in the consolidation in one corporate structure of the assets of both companies, including the Little Deer and Whalesback Copper Deposits located in the Springdale area of north-central Newfoundland and Labrador, which are currently jointly owned on a 50/50 per cent basis by Thundermin and Rambler, and Rambler’s nearby existing copper mining operations on the Baie Verte Peninsula.
Rambler is a mining and development Company that in November 2012 brought its first mine into commercial production.
The group 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.
In addition to the Ming Mine, Rambler has strategic investments in the former producing Hammerdown gold mine, the Little Deer/ Whales Back copper mines and the advanced Valentine Lake Gold Project.
