The construction phase is expected to take 10 months to complete, and Nugget Pond is expected to be commissioned in 2011. The company has already awarded contracts for the mill construction, and the workers are expected to arrive on site by the end of August.
"The company is quickly advancing towards full commercial production in 2011,”Rambler president and chief executive George Ogilvie commented.
Rambler submitted development and rehabilitation and closure plans for the Nugget Pond expansion in July 2010, then on 4 August the provincial government accepted the plans and green-lighted the construction project.
The company noted that it has now received a number of proposals for the rehabilitation work on the shaft manway - as the second means of egress while the mine is in production.
The contract will be awarded in the near future with work expected to begin in Q4, 2010.
With the Nugget Pond rehabilitation work now ready to commence, the company also told investors that other aspects of the Ming mine's development are making progress. Rambler said it intends to submit full development, rehabilitation and closure and environmental protection plans for the mine and port sites once the ongoing feasibility study is complete.
Construction for the mine and port sites is expected to begin before the end of Q4 2010, and they will be complete in time for Mill’s commissioning.
Furthermore, Rambler confirmed that the NI43-101 feasibility study is nearing completion and is currently under review by its independent third party consultants.
The company expects to publish the results of the study this month, and subsequently the full technical report will be filed 45 days later. Rambler highlighted that the study will feature an updated NI43-101 resource statement, which the company believes will “significantly improve the measured and indicated resource estimate for the Ming mine”.
In addition to the operational progress being made, Rambler’s George Ogilvie also highlighted the positive economic backdrop for the project: “The company continues to be encouraged by the supply deficit in the copper concentrate markets and forecasts for copper commodity prices in 2011 and beyond appear good as demand returns in North America and Europe.”
“Rambler also has confidence in the gold price which further benefits the economics of the company."
Separately, Rambler also confirmed that the first ore to be milled under the toll processing agreement with Tenacity Gold Mining, is currently in transit between Tenacity’s Stog'er Tight gold deposit to the Nugget Pond.
Tenacity will stockpile ore both at the mine site and mill site, so that processing can continue uninterrupted upon start-up.
The toll milling campaign is anticipated to begin at the end of August and will continue over the coming months.
The Ming mine is located on the Baie Verte Peninsula. Ming is Rambler’s primary focus. It was initially a copper play, however, an extensive exploration programme conducted by Rambler over recent years has increasingly identified elevated gold grades. In February 2009, a NI 43-101 compliant resource update showed a total measured and indicated resource of 3.651 million tons grading 2.21 percent copper and 1.37 grams per ton of gold.
http://www.proactiveinvestors.co.uk/companies/news/19863/rambler-metals-gets-green-light-for-nugget-pond-and-ming-mine-construction-work-19863.html
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