Ascendant Resources has reported solid Q1 2018 results from its El Mochito mine in Honduras with US$5.30 million in free cash flow and the company’s first quarter of material net income of US$5.29 million or earnings per share of US$0.07.

Ascendant Resources (TSX:ASND) has reported solid Q1 2018 results from its El Mochito zinc mine in Honduras with US$5.30 million in free cash flow and the company’s first quarter of material net income of US$5.29 million or earnings per share of US$0.07.

According to the press release contained metal production for the quarter was 21.4 million zinc equivalent pounds at an average head grade of 6.1 percent, representing the company’s strongest quarter of production since assuming operation of the mine.

As highlighted in the press release:

Net income of US$5.29 million and earnings per share of US$0.07
Adjusted EBITDA of US$7.95 million; third consecutive quarter of positive adjusted EBITDA
Free cash flow of US$5.30 million resulting in a cash balance of US$13.26 million at March 31, 2018
Direct operating costs of US$72.33 per tonne, a decrease of 27 percent from Q1 2017 and 10 percent from Q4 2017
US$28.04 million in revenue, a 254 percent increase over Q1 2017 and 17 percent increase over Q4 2017
Zinc equivalent grade of 6.1 percent, an increase of 9 percent over Q1 2017 and 15 percent over Q4 2017
Record contained metal production of 21.4 million zinc equivalent pounds, an increase of 57 percent over Q1 2017 and 9 percent over Q4 2017

Click here to view the full Ascendant Resources (TSX:ASND) press release.