London, & Newfoundland and Labrador - Rambler Metals and Mining PLC (TSXV: RAB, AIM: RMM) ('Rambler') today announces its unaudited financial results and operational highlights for the third quarter ended 30 April 2016.
Key Financial Highlights (CAD$, 000's):
Q3 2016
Q2 2016
YTD 2016
Q3 2015
YTD 2015
Revenue
10,504
8,327
30,034
9,186
32,011
Profit/ (loss) after tax
1,633
(1,544
)
(49
)
1,916
(3,579
)
Earnings/ (loss) per share ($)
0.008
(0.011
)
0.000
0.009
(0.019
)
Financial Highlights (all amounts in Canadian dollars except as otherwise specified)
A total of 4,595 dry metric tonnes ('dmt') (Q2/16 - 3,770 dmt, Q3/15 - 4,080 dmt) of concentrate was provisionally invoiced during the period at an average price of $2.67 (Q2/16 - $2.89, Q3/15 - $3.36) per pound copper;
Revenue for the third quarter was $10.5 million (Q2/16 $8.3 million, Q3/15 - $9.2 million). Revenue increased during the quarter despite a fall in copper prices due to increased production;
Net cash direct costs per pound of saleable copper net of by-product credits ('C1') for the quarter were $1.90 (USD 1.42) (Q2/16: $2.48 (USD 1.80), Q3/15: $2.50 (USD 2.00)). Saleable copper produced in the quarter was 2.6 million pounds (Q2/16: 2.1 million, Q3/15 2.2 million) which accounts for the decrease in C1 costs compared to Q2/16 and Q3/16;
Earnings before interest, taxes, depreciation, amortisation ('EBITDA') were $4.4 million for Q3/16 compared to $0.75 million in Q2/16 and $3.7 million in Q3/15;
Cash flows generated from operating activities for Q3/16 were $3.4 million compared with cash generated of $1.8 million in Q2/16 and $1.9 million in Q3/15. The generation of cash from operations for the three months is from a cash operating profit offset by changes in working capital;
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For the Third Quarter Ended 30 April 2016
