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Resource Clips

Posts tagged ‘Rambler Metals and Mining plc (RAB)’

Sandstorm announces $130M Bought-Deal Financing

August 23rd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningSandstorm Gold Ltd TSXV:SSL announced it has increased its previously announced bought-deal financing from C$75 million to C$130 million. Lead underwriter Cormark Securities Inc along with National Bank Financial Inc, Paradigm Capital Inc, BMO Capital Markets Inc, Casimir Capital Ltd, Canaccord Genuity Corp and TD Securities Inc have agreed to buy, on a bought deal basis, 13,050,000 units at C$10 for gross proceeds of approximately C$130 million. Sandstorm has granted to the underwriters an option to buy up to an additional 15% of the number of units. If that option is wholly exercised, the aggregate gross proceeds will be approximately C$150 million. Each unit consists of one common share of Sandstorm and one-third of one common share purchase warrant, which will entitle the holder to acquire one common share of Sandstorm at a price of US$14 up to five years following completion of the offering.

Sandstorm provides upfront financing for gold-mining companies seeking capital in return for agreements giving it the right to buy percentages of life-of-mine gold produced at fixed prices. Sandstorm has completed gold purchase or royalty agreements with Luna Gold Corp TSXV:LGC, SilverCrest Mines Inc TSXV:SVL, Rambler Metals and Mining plc TSXV:RAB, Brigus Gold Corp TSX:BRD, Metanor Resources Inc TSXV:MTO, Donner Metals Ltd TSXV:DON, Magellan Minerals Ltd TSXV:MNM, Solitario Exploration & Royalty Corp TSX:SLR and Ely Gold & Minerals Inc TSXV:ELY. The net proceeds of the offering will be used for general corporate purposes including potential future purchases of precious-metal streams and working capital.

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Nolan Watson

by Kevin Michael Grace

Rambler reports Newfoundland Gold Assays up to 39.8 g/t over 29.8m

April 13th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningRambler Metals and Mining plc TSXV:RAB announced assays from its Ming Copper-Gold Mine in the Baie Verte Peninsula, Newfoundland. Results (uncut) include

39.8 g/t gold over 29.8 metres
4.35 g/t over 18.4 metres
18.04 g/t over 5.5 metres
7.45 g/t over 5.6 metres
49.69 g/t over 4.5 metres
7.82 g/t over 6.1 metres

Rambler Metals also announced that a total of 9,714 ounces gold have been poured at the mine to date.

President/CEO George Ogilvie said, “The early gold production from the 1806 zone has been successful; while the recent exploration drilling in new areas of the 1806 zone has also returned some very encouraging grades. While there is currently 16,000 tonnes of 1806 gold ore remaining to be processed the recent exploration drilling results have outlined additional stoping blocks for future mining. Based on our projections gold processing should be completed by mid-May whereupon the company will begin running low-grade copper ore through the concentrator as part of the start-up and commissioning process. Once the process has been optimized high-grade copper ore from the 1807 zone will be fed through the mill. Fiscal 2013 will be an important year for the company as we aim to place the company on a strong financial footing by executing our Phase I high-grade low-tonnage mine plan with a mind to continuing to identify opportunities for optimization and possible expansion beyond 2014.”

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George Ogilvie

by Ted Niles