Rambler keeps up a steady pace

Rambler Metals, the copper and gold producer based in Canada, said it was making steady progress at its Newfoundland and Labrador sites.

In a project update the firm said it had seen increases in head grade, copper recovery and throughput month over month.

Actual mined grades were in line with estimates, it said.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

The average milling throughput has been steadily increasing from 678 metric tonnes per day (mtpd) in June to an average of 706 mtpd in July and August.

It said run of mine head grade had also increased from 2.40% copper equivalent to 2.76% and 3.83% for the same period.

Copper recovery has been consistent, averaging 91% for the month of August, producing a clean concentrate grading between 22% and 32% copper

To date, they firm has around 4,500 wet metric tonnes of copper concentrate are in storage awaiting shipment.

"The mill is working as designed with a quality concentrate product produced consistently," said Chief Executive George Ogilvie.

"Development at the mine is returning encouraging stoping grades and as we set up additional stoping levels our run of mine head grade to the mill should continue to improve."