Welcome to our dedicated page for Ascendant Res news (Ticker: ASDRF), a resource for investors and traders seeking the latest updates and insights on Ascendant Res stock.
News and updates for Ascendant Resources Inc. (OTCQB: ASDRF; TSX: ASND) focus on its activities at the Lagoa Salgada VMS polymetallic project in Portugal and on key corporate developments. Company news releases describe ongoing exploration, metallurgical optimization, feasibility study work, and permitting efforts at Lagoa Salgada, as well as its proposed business combination with Cerrado Gold Inc.
Readers following ASDRF-related news can expect coverage of exploration drill programs targeting massive and semi-massive sulphide mineralization at the Venda Nova North and South Zones, results from gravity, IP, and EM surveys, and participation in EU-funded initiatives such as the UNDERCOVER project. Updates also address metallurgical test work designed to improve metal recoveries and concentrate quality for zinc, copper, lead, and other metals, and to reduce deleterious elements through thermal treatment.
Corporate news has included the announcement of a definitive arrangement agreement under which Cerrado Gold will acquire all Ascendant shares, shareholder and court approvals for the arrangement, and related private placements with Cerrado and an affiliate of Sprott Streaming involving equity issuances and debt conversion. Additional releases have covered financing arrangements, such as loans and private placements intended to support ongoing work at Lagoa Salgada.
This news page aggregates historical and recent disclosures so investors can review how Ascendant has advanced Lagoa Salgada, engaged in technical and academic partnerships, and progressed toward a proposed combination with Cerrado Gold. For users tracking ASDRF, the feed offers a single location to review exploration milestones, technical results, financing events, and transaction-related announcements over time.
Ascendant Resources Inc. (TSX:ASND, OTCQB:ASDRF) has announced a partnership with the University of Évora, Portugal, to integrate Artificial Intelligence (AI) and machine learning into mineral exploration at the Lagoa Salgada Project. The collaboration, part of the HYPERMETAL project, aims to revolutionize polymetallic mineral exploration by combining hyperspectral technology with traditional methods. The project will be funded through an application to the Portugal 2030 program, with results expected by November 2024.
Additionally, Ascendant has granted an extension to EDM (Portuguese State Mining Development Agency) for its option to acquire up to a 15% interest in the Lagoa Salgada Project. The deadline is now set to 120 days after the issuance of the Environmental Impact Statement and completion of the project's feasibility study optimization.
Ascendant Resources (TSX:ASND, OTCQX:ASDRF) has submitted the final stage of its Environmental Impact Assessment (EIA) for the Lagoa Salgada project in Portugal. Key points include:
1. The submission responds to additional information requested by APA, the Portuguese environmental agency.
2. A 90-working day review period has resumed.
3. A 'declaration of conformity' is expected within 20 working days.
4. Public consultation and APA Evaluation Committee review will follow.
5. The project will then enter the RECAPE phase, expected to take 60 working days.
6. EIA approval could allow for construction to begin in Q4 2024.
Ascendant Resources announced a Protocol of Cooperation with the Faculty of Sciences of the University of Lisbon.
This agreement, made through its subsidiary Redcorp, aims to facilitate joint projects focusing on education, training, research on environment and natural resources, and innovation.
The collaboration seeks to bridge academic research and the business community, highlighting a mutual commitment to advancing these fields.
Executive Chairman Mark Brennan emphasized the importance of engaging with local communities and professionals, predicting numerous benefits for both the community and Portugal.
Ascendant Resources has appointed McGovern Hurley LLP as its new auditor, effective immediately. This decision follows a mutual agreement between Ascendant and KPMG LLP, with KPMG LLP resigning from their role. The new auditor will serve until the next shareholders' meeting. Ascendant Resources trades under the symbols TSX:ASND, OTCQB:ASDRF, and FRA:2D9.
Ascendant Resources reported the outcomes of its Annual General Shareholders' Meeting held on June 13, 2024, in Toronto. Voting results covered several governance matters.
A total of 51,497,589 common shares, representing 27.59% of all outstanding shares, were voted. The resolution to set the number of directors at six was approved with 99.46% in favor. All seven director nominees were elected, each receiving over 99% of the vote.
KPMG LLP was reappointed as the auditor, with 99.57% of votes in favor. Notably, Stephen Shefsky, co-founder and Lead Director, did not stand for re-election.
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