Priced as of close October 16, 2017
Ascendant Resources Inc. (TSX:ASND) reported September and Q3 2017 production results, achieving milled production of 2,055 tpd (8% increase from August)
and 1,934 tpd (17% increase over Q2 2017), respectively. September results were hindered by delayed equipment deliveries, which have now arrived. Although
being slightly under Q3 guidance of 2,000 tpd, with the addition of new equipment and continued progress, the company is expecting to meet its Q4 2017
guidance of 2,200 tpd. As well, ore grades are expected to improve as new higher-grade zones become accessible. All of which should be reflected by
improved production 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
Alex Pitcher | 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.