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Ascendant Resources Inc. (TSXV:ASND) announced Q1 operating results and 2017 guidance from its recently acquired El Mochito mine in Honduras both of which we view positively. For Q1, despite elevated costs and ongoing efforts to improve operations the company appears to be only modestly cash flow negative at the mine level. More importantly, the planned progressive improvements appear to be achievable and the exit run-rate suggests a much higher valuation may be warranted at the end of 2017. While there is risk associated with Ascendant executing these operational improvements, the company appears poised to deliver a progressive re-rating throughout 2017. As well, following the recent financing (C$20 million) the company should have the financial flexibility to execute on its plan, including what is planned to be a capital intensive Q2. We expect the pending financial and operating updates to be the key catalysts for the Ascendant share price over the next year. read more
Ascendant Resources Inc. (TSXV:ASND) provided an update on its ongoing optimization program at its El Mochito Mine in Honduras. Throughout the majority of March, the company mined and milled on average 1,745 tpd (vs. 1,600 tpd in January), noting a sustainable processing capacity target of 2,200 tpd. The company expects that ongoing productivity improvements should steadily ramp-up throughput, achieving planned throughput by year end. In addition, the company is implementing a maintenance program to improve equipment availability and support higher production rates. On March 9th, the company completed its first lead concentrate shipment from El Mochito, selling ~1,500 tonnes. Negotiations are underway to complete a new Collective Bargaining Agreement, we expect further results from the agreement coupled with the ongoing optimization program to result in an operational turnaround, positioning Ascendant to benefit from the improving zinc price environment. read more
On Friday March 3th, 2017, Red Cloud Klondike Strike Inc. will be hosting its 5th Annual Pre-PDAC Mining Showcase. The event features presentations from 21 companies, including a themed lunch presentation by leading corporations in the gold mining sector. Visit the event page for more details on the day’s schedule. In this post, we provide a brief preview on the 21 presenting companies and 13 banner sponsors that will also be in attendance. read more
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Red Cloud Klondike Strike Inc. connects mining companies with suitable investors that qualify under available regulatory exemptions. For example, in Canada, according to National Instrument 45-106, Prospectus and Registration Exemptions. Similar laws and regulations apply in other jurisdictions. Companies presented on this website are considered to be highly speculative and, as such, are suitable only for purchasers who can tolerate the highest level of risk including the loss of their entire investment.
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