Rambler Makes Final Repayment Against Credit Facility With Sprott Resource Lending Partnership
March 03 2014 - 2:00AM
Marketwired
Rambler Makes Final Repayment Against Credit Facility With Sprott
Resource Lending Partnership
LONDON, UNITED KINGDOM and BAIE VERTE, NEWFOUNDLAND and
LABRADOR, CANADA--(Marketwired - Mar 3, 2014) - Rambler Metals and
Mining plc (TSX-VENTURE: RAB) (LSE: RMM) ('Rambler' or the
'Company'), a copper and gold producer operating in Newfoundland
and Labrador, Canada, today announces that following a final
payment of CAD $1.0 million on 28 February 2014 the outstanding
balance of the Company's CAD $10.0 million credit facility with
Sprott Resource Lending Partnership ('Sprott') has been repaid.
Cash resources as at 28 February 2014 were CAD $5.5 million.
Norman Williams, President and CEO, commented:
"This is a tremendous achievement for Rambler and
demonstrates its ability to generate free cash flow from its Ming
Mine asset. Steady production, coupled with meeting budgeted grades
and higher than budgeted copper recoveries, has enabled the Company
to meet its cash flow targets and focus on repaying this credit
facility ahead of schedule.
"As the Company's cash position strengthens, the Board of
Directors will continue its review of capital allocation resulting
from free cash to maximize shareholder value."
Please click on the link below for an audio interview with
Norman Williams;
http://www.brrmedia.co.uk/event/121257?popup=true
Click on, or paste the following link into your web browser, to
view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/3173B_1-2014-3-3.pdf
Peter Mercer Vice President and Corporate Secretary Rambler
Metals and Mining Tel No: 709-800-1929 Fax No:
709-800-1921 Stewart
Dickson / Jeremy Stephenson Cantor Fitzgerald Europe Tel No:
+44 (0) 20 7894 7000
Rambler Metals & Mining Plc Corporate Office Tel No:
+44 (0) 20 8652-2700
Fax No: +44 (0) 20 8652-2719
Tim Blythe/Halimah Hussain Blythe Weigh Communications Tel No:
+44 (0) 20 7138 3204
Guy Wilkes Ocean Equities Limited Tel No: +44 (0) 20-7786-4370
Website: www.ramblermines.com
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