Rambler Metals (RMM:AIM) (RAB:TSXV)
The company provided production guidance for the 2017 fiscal year, which will now be the same as the calendar year. Also provided five month Stub period for production ending December 31, 2016 as they transition their fiscal year.
Saleable metal for 2017 is expected to be 5,100-5,800 tonnes of copper and 4,400-5,100 ounces of gold. This compares to 2016 actual saleable metal of 4,174 tonnes of copper and 6,132 ounces of gold. For the 5 month Stub period, the mill produced 5,946 dmt of concetrate containing saleable metal of 1,590 tonnes of copper and 2,020 oz of gold.
Norman Williams, CEO advised that a key milestone for 2017 will be the Phase II expansion plan of attaining full production of 1,250 metric tonnes per day (mtpd). Once prodcution can be sustained at 1250 mtpd both the grade and unit cost will improve and stabilise.