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Rambler Metals post tax profit $0.026 per share

Staff writer ▼ | December 10, 2013
Rambler Metals and Mining announced its financial results and operational highlights for the quarter ended October 31, 2013. This quarter completes 12 calendar months of commercial production and resulted in pre-tax profits of $8,967,000.
Rambler Metals and Mining
Rambler Metals and MiningRambler Metals and Mining announced its financial results and operational highlights for the quarter ended October 31, 2013. This quarter completes 12 calendar months of commercial production and resulted in pre-tax profits of $8,967,000.


Post tax profit for the quarter produces $3,708,000 or $0.026 per share compared to a loss of $718,000 or $0.005 per share for the same period in 2013. A total of 6,648 dry metric tonnes (dmt) (Q4 2013 5,573 dmt) of concentrate was provisionally invoiced during the period at an average price of $3.39 (Q4 2013 $3.31) per pound copper, $1,390 (Q4 2013 $1,409) per ounce gold and $22.81 (Q4 2013 $21.98) per ounce silver, generating revenue of $16.3 million.

An additional $424,000 in revenue was realized on the final settlement of 293 ounces of gold produced from 1806 zone ores through the company's gold processing facility.

Cash resources as of 31 October 2013 were $5.7 million and as of 9 December 2013 had increased to $6.7 million with operating cash flows anticipated to continue to build throughout the fiscal year. Secured credit facility outstanding balance reduced to $3,750,000 at 31 October 2013.

On September 17, 2013 a conditional offer was accepted by Cornerstone Capital Resources Inc. for 50 percent interest in The Little Deer Copper Deposit and Whalesback Mine for $550,000 consisting of $200,000 in cash and $350,000 in shares.


 

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