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Rambler Metals and Mining report small increase to revenues amid production delay
StockMarketWire.com
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Rambler Metals and Mining a copper and gold producer, explorer, and developer has reported a small increase in revenues to $7.06m (£5.07m) for the three months ended March 31, 2021, up slightly on 2020s Q1 result of $6.58m (£4.73m)
Debt repayments of $1.29m (£0.93m) were made, but net debt remained, totalling $3.46m (£2.49m) at the end of the quarter. During Q1 2021, the Nugget Pond copper and gold milling facility processed 57,357 dmt at a feed grade of 1.64% copper and 0.55 grams per tonne of gold. Recovery of metal to concentrate was 96.6% and 66.0% for copper and gold respectively.
Delays to the production ramp-up have had and are expected to have a negative impact on the company's cash position in the short term. To ensure the company has adequate funds available for both development and working capital through this production ramp-up period, the firm is to investigate financing options.
At 9:15am: (LON:RMM) Rambler Metals and Mining PLC share price was 0p at 0.24p
Story provided by StockMarketWire.com
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