|By Marketwired .||
|January 15, 2014 02:09 AM EST||
LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR -- (Marketwired) -- 01/15/14 -- Rambler Metals and Mining plc (TSX VENTURE: RAB)(AIM: RMM) ('Rambler' or the 'Company') today announces that, with immediate effect, Mr. Norman Williams has been appointed President and CEO of Rambler and Mr. George Ogilvie has been appointed Chairman.
Mr. Williams was appointed Chief Financial Officer in 2010 having joined as Financial Controller two years prior. He is a Chartered Accountant with over fifteen years of financial and management experience. Prior to joining the Company, he served in management roles in finance and administration at the St. John's Port Authority in Newfoundland and earlier as Senior Manager at Deloitte where he was closely involved with a number of junior exploration companies. Mr. Williams completed a Bachelor of Commerce degree at Memorial University of Newfoundland and received his CA from The Canadian Institute of Chartered Accountants.
Mr. Tim Slater, who has served as an independent financial advisor since the Company's inception, will serve as Rambler's interim Chief Financial Officer. Mr. Slater has more than twenty years of experience in public company accounting, including Chief Financial Officer roles in various mining and exploration companies.
Mr. Harry Dobson will be stepping down as Chairman of Rambler, however he will remain on the Board as a Non-executive Director, replacing Mr. Brian Hinchcliffe who has now resigned.
Mr. Williams will be appointed to the Board, and there will be a further announcement to this effect, in due course subject to diligence as required under the AIM Rules for Companies and AIM Rules for Nominated Advisers.
George Ogilvie, Chairman, commented:
"Over the past seven years we have built Rambler together, as a team and our combined skills and expertise have been instrumental in building the Company's strong foundation.
"Norman joined the team in 2008 and has been an integral part of Rambler's development into, what is now, a profitable copper and gold producer. I am sure he will be an excellent CEO.
"As Chairman of Rambler I am fully committed to directing the Company's growth into a mid tier producer."
Norman Williams, President and CEO, commented:
"Over the past five plus years, growing the Company from a junior explorer into a producing operation, with tremendous growth potential, has been a challenging yet rewarding experience.
"As the Company moves forward I will continue to look at ways of optimizing the Ming Mine's development and profitability. I also believe we must continue to evaluate our external growth opportunities that will ensure the Company's continued success."
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development Company that in 2012 brought its first mine into commercial production. The group has a 100 per cent ownership in the Ming Copper-Gold Mine, a fully operational base and precious metals processing facility and year round bulk storage and shipping facility; all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.
The Company's Vision is to be Atlantic Canada's leading mine operator and resource developer through the expansion of the Ming Mine, discovering new deposits and through mergers and acquisitions. Rambler listed on the London AIM in 2005 and Toronto TSX-V in 2007.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward Looking Statements:
Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute "forward-looking statements". Such forward-looking statements include, without limitation, statements regarding copper, gold and silver forecasts, the financial strength of the Company, estimates regarding timing of future development and production and statements concerning possible expansion opportunities for the Company. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, copper concentrate, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, interpretation and implications of drilling and geophysical results; estimates regarding timing of future capital expenditures and costs towards profitable commercial operations. Other factors that could cause actual results, developments or events to differ materially from those anticipated include, among others, increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operating margins; cash operating cost per pound sold; costs per ton of ore; variances in ore grade or recovery rates from those assumed in mining plans; reserves and/or resources; the ability to successfully integrate acquired assets; operational risks inherent in mining or development activities and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals and environmental protection. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable law.
Rambler Metals and Mining
Tel No: 709-800-1929
Tel No: 709-800-1921
Rambler Metals & Mining Plc
Tel No: +44 (0) 20 8652-2700
+44 (0) 20 8652-2719 (FAX)
Cantor Fitzgerald Europe
Stewart Dickson / Jeremy Stephenson
Tel No: +44 (0) 20 7894 7000
Blythe Weigh Communications
Tim Blythe/Halimah Hussain
Tel No: +44 (0) 20 7138 3204
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