Ascendant Resources Inc. (TSX:ASND) reported August operational results from its El Mochito mine, highlighted by an adjusted EBITDA of $0.8 million
($0.7 million in July). Since January the company has achieved a 53% increase in ore throughput with August averaging 1,903 tpd (1,853 tpd in July).
In mid-July, the company employed new mining equipment, which has made an immediate impact. More equipment deliveries are expected over the next ten
months, in October a third truck is expected to be delivered followed by a fourth truck and third scoop in November, which should further increase
productivity in the near term. 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 results from ongoing exploration.
Derek Macpherson | VP Mining Analysis
Victoria Ellis Hayes | Associate
Red Cloud Klondike Strike Inc.
105 King Street East, 2nd Floor
Toronto ON, M5C 1G6
Priced as of prior trading day's market close, EDT (unless otherwise noted).
All values in USD unless otherwise noted.
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
publication 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. - TSX: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.