June 2022 and H1 2022 Operational Results
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, is pleased to announce its reconciled operational results for June 2022 and H1 2022.
To view the PDF version of the announcement including Table 1 and subsequent graphs please click here: http://www.rns-pdf.londonstockexchange.com/rns/1418S_1-2022-7-12.pdf
- Rambler Metals & Mining’s June report on monthly performance, which was included in the H1-2022 operating results, was released yesterday afternoon. It reports that the average copper feed grade reached 2.02%, the level previously mentioned as a goal for 2022.
- Copper feed grades increased steadily over the quarter to 30 June from 1.56% in April, to 1.58% in May, and to 2% in June. Higher grades were made available from the Upper Footwall or Ming North zones. Gold grades have also improved from 1.46g/t to 0.41g/t between April and June.
- The Nugget Pond copper concentrate production has steadily increased from 1,341t to 2,347t by June. This brings the quarter total to 5,890t (Q1-2022 – 4,191t, and Q2-2021 – 2,502t). With the Q1 2022 total at 1,569t (Q1-2022 – 1,066t andQ2 2022 respectively – 673t), the quarter total to 1,569t.
- Toby Bradbury, President and CEO of the Ming Mine, commented on the results. He said, ” June, as a month, and Q2 2022, as a quarter, have set new records at the Ming Mine in terms of copper production”.
- According to reports, mining has “progressed within all four main production areas [of the Mingmine]… with emphasis on the month on backfilling the mined out stops as part of the mine planning”.
- The June total ore and waste mining increased by approximately 7% to 53,870t (May 20,22 – 50.388t).
- According to the company, it had placed 21,520t backfill in three lower mining zones during June (May -16296t0) and that “This step in the mining sequence also benefits operation by reducing or eliminating haulage from waste rock to surface and is one reason why ore tonnes were lower in the month”
- The backfilling program was introduced to the cycle in order to reduce dilution and achieve higher grades from the mine”.
- Bradbury expressed his confidence in Rambler’s ability to “continue improving performance through further optimisation in our mining execution.” To maintain a mining balance and backfilling to ensure that at least two stopes are available at any given time for ore production, a large amount of waste backfilling was required in June.
- He also confirmed that Rambler would provide quarterly market updates in the future. This is more appropriate considering the conditions that the operations have reached.”
- According to the announcement of H1 copper production, 2,634t is the result. This implies that H2 will require further improvements to meet the previously issued production guidance for 7,000t copper in 2022. However, we believe the positive improvements in copper head grades will play an important role in delivering this guidance.
Conclusion: The feed grade of copper reached 2% in June, which helped to produce record monthly and quarterly productions for Q2 2022. Backfill increases will help contain mine dilution, improve operational resilience and flexibility, and ensure that the copper grade remains stable at around 2%.
