COMPANY INFO Rambler Metals Overview
Rambler Metals and Mining plc ("Rambler") was established to invest in the base metal sector in politically stable jurisdictions. Its principal project is the Rambler copper-gold property, located on the Baie Verte Peninsula of Newfoundland and Labrador, Canada. Rambler acquired the property from Altius Minerals Corporation in exchange for ordinary shares during 2005.
The Rambler property contains the former producing Ming and Ming West copper-gold mines. The Ming Mine last operated in 1982 and the Ming West Mine in 1996. Mining of the Ming Mine ceased when workings reached a neighbouring property boundary. Rambler Metals and Mines acquired the property after it had been successfully consolidated.
The Ming and Ming West Mines exploited relatively narrow zones of high-grade copper and gold mineralization. Sections of this mineralization remain in the lower part of the Ming Mine and it is open to depth.
In 2004, two holes were drilled to test the depth potential of the underlying Ming Footwall Zone (MFZ), which was partially outlined nearer to surface by the previous mining operator. These drill holes both returned wide zones of copper mineralization with substantially better indicated grades than encountered in the nearer to surface historic holes and the MFZ became a priority for delineation drilling.
The first phase of drilling was carried out from April through December 2005 and involved the completion of widely spaced holes from which offset holes could be completed using directional drilling technology. The directional drilling program began in January of 2006 and holes are now being spaced at approximately 50 metre centres in order to delineate the mineralized areas.
A program of dewatering and rehabilitation of the Ming Mine underground infrastructure has commenced and has progressed enough to allow for UG delineation drilling, which is currently ongoing. This work is being undertaken with a view towards accelerating resource delineation and, hopefully, the resumption of mining operations on the property.
Rambler Metals and Mining plc currently trades on London's AIM market under symbol RMM and on the TSX:V under symbol RAB.
For a copy of the "Placing and Admission to AIM" document regarding Rambler please click here.
Share Structure
| Shares Issued |
59,385,000 |
| Year High/Low: |
1.70 / 0.97 $CDN
74.5 / 50.5 £ |
| Principal Investors: |
Altius Minerals 20%
Zila Corporation 13% |
Rambler's Strategy
Rambler's strategy is to identify opportunities for acquisition, exploration and development of base metal deposits in countries with perceived low political risk. The Directors have experience in the complete cycle of base metal mining exploration, mine development, fund raising, metals and concentrate trading and commercial negotiations with the shipping and smelting industries.
Rambler's first project is the exploration and drilling programme on the Rambler Property where it will seek to develop a reserve that can support profitable, underground large scale bulk mining. During the drilling and exploration programme on the Rambler Property, which will take place during 2005 and 2006, Rambler will actively work to identify additional projects that meet Rambler's criteria in exploration potential, economics and geo-political location.
There are two core components of the Board's outlook for the base metals and mining industry:
- The dominant, global demographic trends of economic and population growth in India, China and the other Asian countries should create stronger demand for natural resources including energy and metals. According to the UN's latest World Population Prospects released in February 2005, the world's population will increase from 6.5 billion people today to 9.1 billion people in 2050 with almost all the growth in the developing world. This same report forecasts that there will be 1.395 billion people in India in the year 2025 and 1.441 billion people in China in 2025. By the end of this decade China, which accounted for only 10 per cent of metals production in 1990, is estimated to consume 30 per cent of global metals production.
- As a result of the relatively low prices for base metals during the late 1990's and early years of the current decade, exploration and development budgets of base metal companies were reduced, with the result that the number of significant new projects able to be brought on stream is not likely to meet the rising demand, in particular from Asia. By way of an example, the copper market was in a deficit of 700,000 tons during 2004 and some market forecasters have the copper market in deficit until 2010. Rambler's business development strategy will be guided by these views and will seek to identify emerging projects or former producing projects that meet Rambler's criteria.
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