Ascendant Resources Inc. reported Q2 2017 financial results

Ascendant Resources (TSXV:ASND) (“Ascendant” or the “Company“) (“Ascendant” or the “Company”) reported Q2 2017 financial results, highlighted by the July adjusted EBITDA of $0.7 million, the first positive result since acquiring the El Mochito Mine in December 2016. Operations improved month over month to 1,853 tpd, for an average of 1,733 tpd for Q2 2017 (1,619 in Q1 2017), which remains under the guidance of 1,850 tpd by ~6%. The company remains focused on optimization with the additions of new equipment and availability to ultimately increase head grades and value per tonne mined. The company expects to realize these improvements over the remainder of the year. We believe a progressive re-rating is likely over the year as the company executes on its ongoing optimization program and reports exploration results from the recently initiated program.
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Source: www.redcloudks.com