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Rambler Metals and Mining plc (CVE:RAB, LON:RMM) enjoyed a 2.5% bump in its stock price Thursday on news that the Toronto and London-listed company has poured the first gold from its Ming Copper-Gold Mine in Newfoundland/Labrador, Canada.
Gold milling began on Nov. 28 and commercial production is set to begin at the end of 2012, Rambler stated.
The company has 3,509 tonnes of ore stockpiled at an average grade of 4.10 g/t gold, with an additional 78,599 tonnes of having been blasted, drilled, developed or designed.
“Having the Ming Mine in production is a significant milestone for the company while we will see first revenues from our gold sales in early 2012.These revenues should allow the company to strengthen its treasury position over the coming months,” President and CEO George Ogilvie said in a statement.
Rambler has $3.4 million in its kitty and another $5 million available upon delivery of an offtake agreement.
