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Ascendant Resources Inc. (TSXV:ASND) announced average daily throughput had improved to 1,960 tpd from its El Mochito mine in April (up from 1,619 tpd in Q1), providing an early indication that the company is on-track with its turnaround.
Ascendant Resources Inc. (TSXV:ASND) announced average daily throughput had improved to 1,960 tpd from its El Mochito mine in April (up from 1,619 tpd in Q1), providing an early indication that the company is on-track with its turnaround. For Q2, the company has guided for 1,850 tpd and expects to exit 2017 at 2,200 tpd. To achieve these goals, we expect the company is likely to deliver steady improvements over the course of the year, as it enters its most capital intensive quarter. The recent financing (C$20 million), should provide the financial support necessary to fund its operational turnaround. In addition, the company announced that its new three-year collective bargaining agreement has been agreed upon with union leadership and ratified by the Minister of Labour of Honduras, which should provide the company medium term labour stability. We believe a progressive re-rating is likely over the year as the company executes on its ongoing optimization program; we expect Q2 operating results (expected in early July) are inclined to be the next catalysts for the company.
Derek Macpherson | VP Mining Analysis
Victoria Ellis Hayes | Associate
Red Cloud Klondike Strike Inc.
105 King Street East, 2nd Floor
Toronto ON, M5C 1G6
RCKSTalk@RedCloudKS.com
Priced as of prior trading day’s market close, EST (unless otherwise noted).
All values in USD unless otherwise noted
Disclaimer
Red Cloud Klondike Strike Inc. is registered as an Exempt Market Dealer in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland & Labrador, and the Yukon. Part of Red Cloud Klondike Strike Inc.’s business is to connect mining companies with suitable investors that qualify under available regulatory exemptions (the “Red Cloud KS Business“). Red Cloud Klondike Strike Inc., its affiliates and associates, and their respective officers, directors, representatives, researchers and members of their families (collectively, “Red Cloud KS“) may hold positions in the companies mentioned in this publication and may buy or sell, or buy and sell their securities or securities of the same class on the market or otherwise. Additionally, Red Cloud KS may have provided in the past, and may provide in the future, certain advisory or corporate finance services and receive financial and other incentives from issuers as consideration for the provision of such services.
Red Cloud KS has prepared this publication for general information purposes only, NOT as part of the Red Cloud KS Business. This document should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided by Red Cloud KS for the purposes of this publication has been derived from sources believed to be accurate, but cannot be guaranteed. Opinions or analysis contained in this publication may be subject to change and Red Cloud KS does not undertake to advise the reader of such changes. This publication does NOT take into account the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g. prohibitions to investments due to law, jurisdiction issues, etc.) which may exist for certain persons. Recipients should rely on their own investigations and take their own professional advice before investment. Red Cloud KS will not treat recipients of this publication as customers or clients by virtue of having viewed this report.
Company Specific Disclosure Details
Ascendant Resources Inc. – TSXV:ASND – 2,4
1) A member of Red Cloud KS team has visited/viewed material operations of the issuer.
2) In the last 12 months, Red Cloud KS has been retained under a service or advisory agreement by the subject issuer.
3) In the last 12 months, Red Cloud KS has received compensation for investment banking services.
4) Red Cloud KS or a member of the Red Cloud KS team or household, has a long position in the shares and/or the options of the subject issuer.
5) Red Cloud KS or a member of the Red Cloud KS team or household, has a short position in the shares and/or the options of the subject issuer.
6) Red Cloud KS or a member of the Red Cloud KS team own more than 1% of any class of common equity of the subject issuer.
7) A member of Red Cloud KS team or a member’s household serves as a Director or Officer or Advisory Board Member of the subject issuer.
Click here to connect with Ascendant Resources Inc. (TSXV:ASND) to receive an Investor Presentation.
Source: www.redcloudks.com
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