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Tuesday, November 14, 2017 Derek Macpherson

ASND Continues to Demonstrate Improving Operations

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Ascendant Resources Inc. (TSX:ASND) reported its fourth consecutive month of positive and increasing adjusted EBITDA with a total of $1.3M for the month of October. These results reflect the success of operational improvements at the El Mochito mine in Honduras and outlines the path to profitability for the company. Operational improvements included an increase in productivity at the mill by 8% MoM, from 2,055 tpd in September to 2,184 tpd, and an increase of 67% since January 2017. This was driven by the introduction of new mining equipment in mid-July and the mining of higher grade ore. 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 as the company executes on its ongoing optimization program and reports results from ongoing exploration.  read more


Tuesday, October 17, 2017 Derek Macpherson

ASND Sees Slight Impact from Delays; Ramp-Up Continues

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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. read more


Tuesday, October 03, 2017 Derek Macpherson

ASND Hits More High-Grade Zinc at El Mochito

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Ascendant Resources Inc. (TSX:ASND) reported additional results from its ongoing underground exploration and resource definition drill program at El Mochito. Infill and step-out holes targeted Palmer Dyke, Santa Elena and Victoria which could be accessible within 6-12 months. High grade highlights include 6.6% Zn, 5.6% Pb, 81 g/t Ag and 0.1% Cu over 12m (hole 10904) and 10.1% Zn, 0.6% Pb, 31 g/t Ag and 0.12% Cu over 4.1m (hole 10884). 8,000m of drilling remain from the 33,200m program, the company is expecting to complete a resource and reserve update in the spring of 2018. 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. read more


Monday, September 25, 2017 Derek Macpherson

ASND Continues Ramp-up in August

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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. read more


Tuesday, August 15, 2017 Derek Macpherson

ASND Q2 Highlighted by Improved Operations

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Ascendant Resources Inc. (TSX:ASND) 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. read more


Tuesday, July 18, 2017 Derek Macpherson

ASND Shows Improved Operations in June & Q2

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Ascendant Resources Inc. (TSXV:ASND) provided a production update for June and Q2 from its El Mochito mine. Operations improved month-over-month but throughput fell slightly short (~7%) of Q2 guidance. However, better than expected grades resulted in the company exceeding zinc equivalent production guidance by ~4% for the quarter. We view the progress the company is making positively, particularly since equipment availability is expected to improve in Q3 and the company reaffirmed its full-year guidance. Consequently, we expect operational improvements to continue. 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. read more


Tuesday, June 27, 2017 Derek Macpherson

ASND Reports High Grades from El Mochito

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Ascendant Resources Inc. (TSXV:ASND) reported high-grade results from 29 drill holes completed from its 33,200m 2017 underground exploration aimed to upgrade and expand resources at its El Mochito mine in Honduras. Results focused on the extensions of Palmer Dyke, Santa Elena, Victoria and Esperanza, of which Esperanza is currently being mined, while the others are near current operations and the company suggests could be placed into production within 6-12 months (Figure 1). Highlights include, 5.3% Zn, 3.8% Pb and 83 g/t Ag over 17.6m (step-out Hole 10846) and 6.2% Zn, 2.2% Pb and 41 g/t Ag over 17.5m (infill Hole 10847 – Esperanza). Importantly an exploration program of this size is the first in many years at the mine. We view these results positively as it points to the possibility for a longer mine life, with more results pending. We continue to believe a progressive re-rating is likely over the year as the company executes on its ongoing optimization program and reports on exploration results. Q2 operating results (anticipated in early July) are likely to be the next catalyst for the company. read more


Monday, June 12, 2017 Derek Macpherson

ASND Has Challenging May; Turnaround Progressing

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Ascendant Resources Inc. (TSXV:ASND) provided an update on production and exploration activities at its El Mochito mine. Ore hoisted for the month May averaged 1,511 tpd, a decrease from April (1,960 tpd) due to diminished availability of mining equipment. A plan to update the mining fleet was already in progress and more purchases are expected, new trucks and scoops will be added over the coming weeks. The company remains confident in meeting its guidance of 1,850 tpd in Q2 despite being behind that target quarter-to-date (1,750 tpd). As well, the company began a 33,200m 2017 underground exploration program to upgrade and expand resources at El Mochito consisting of 18,200m of definition drilling and 15,000m of greenfield exploration with the goal of adding new higher-grade zones. We continue to believe a progressive re-rating is likely over the year as the company executes on its ongoing optimization program and reports on upcoming exploration results; Q2 operating results (anticipated in early July) are likely to be the next catalysts for the company. read more


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