Rambler Seeks Additional Capital; Stock Down

(RTTNews) - Rambler Metals and Mining Plc (RBMTF, RMM.L, RAB.V), a copper and gold producer, said in an update on Friday that it requires additional capital as it is moving ahead with the impact of current macro-economic conditions, volatile copper prices, and inflationary pressures.

"It should be noted that the current stress on the business is from balance sheet weakness rather than operational viability. The focus of new capital would be to strengthen the balance sheet at a time when operational performance has improved following continued development investment," the company said in a statement.

Rambler Metals also clarified that it is not certain whether the capital should be in the form of equity, a restructure of debt, or a combination of the both.

RMM.L is trading down by 33.45 percent at 13.98 pence on the London Stock Exchange.