Rambler Metals Signs Pact To Sell Ming Mine Copper Concentrates

LONDON, Jan 09, 2012 (Dow Jones) -- Rambler Metals and Mining PLC (RMM.LN) said Monday it has signed an off-take agreement for its copper concentrate production from the Ming Mine with Transamine Trading, ensuring that all of its copper concentrate will be sold at international market rates.

Main Facts:
-Agreement will see sale of 85,000 tons of copper concentrate from Ming Mine to Transamine over an initial six year period and includes a provisional payment for concentrate as it arrives at Goodyear's Cove port facility.

-With a measured and indicated resource of 432,000 tons grading 3.86% copper, 1.75 g/t gold and 7.18 g/t silver concentrate produced from this zone will greatly assist Rambler's immediate cash flow.

-Shares closed in London Friday at 26.75 pence valuing the company at GBP33.29 million.