Ascendant Res Inc Stock Price, News & Analysis

Ascendant Resources Inc. announces that its Lagoa Salgada VMS project has been recognized as a Project of National Interest (PIN) by the Portuguese Government. This designation facilitates expedited permitting and construction processes, highlighting strong local and governmental support. The recognition is a significant milestone for the project, which is expected to enhance local economies and support Portugal's mining sector. The project is backed by a favorable Preliminary Economic Assessment indicating a low capital investment of US$132 million, with an after-tax NPV of $246 million and an IRR of 55%.

Ascendant Resources Inc. (ASDRF) announced significant advancements in its ongoing Feasibility Study at the Venda Nova deposit, Lagoa Salgada Project, in Portugal. As of March 20, 3,520 meters of an 18,000-meter infill and exploration drill program have been completed. Detailed metallurgical testing is in progress, with results expected in mid-April. Additionally, a scope for the Environmental Impact Assessment has been submitted to Portuguese authorities. The Feasibility Study, led by Quadrante Engenharia, is aimed for completion by year-end 2022, demonstrating strong development potential.

Ascendant Resources has launched a new drill program at its Lagoa Salgada VMS project in Portugal, aiming to complete a Feasibility Study in 2022. The program consists of approximately 15,000 meters of diamond drilling, which includes both infill and exploration drilling. The goal is to upgrade Inferred resources to Measured and Indicated categories. The company recently completed a Preliminary Economic Assessment (PEA) that highlighted a low capital expenditure of US$132 million and an after-tax NPV of $246 million.

Ascendant Resources announces the appointment of David Ball as Vice President of Business Development. With extensive experience in mining finance and M&A, Mr. Ball previously served as CFO of Santiago Metals Limitada and held senior roles at Macquarie Capital. He possesses a solid background in corporate advisory and fundraising across various regions, including North and South America. His expertise is expected to enhance Ascendant's growth as they advance their Lagoa Salgada VMS project in Portugal, which boasts significant resources and potential for scaling up production.

Ascendant Resources has signed a definitive mining concession contract with the Portuguese Government for its Lagoa Salgada VMS project. This contract, effective for 20 years, allows for two extensions and outlines a phased development approach. Phase 1, lasting six years, involves exploration and obtaining necessary approvals, while Phase 2 focuses on mineral exploitation and building an ore treatment facility. The project boasts significant resources, including over 10.33 million tonnes of measured and indicated resources, and is positioned to contribute to regional economic development.

Ascendant Resources has filed a new NI 43-101 Preliminary Economic Assessment (PEA) for the Lagoa Salgada Project on SEDAR. The PEA indicates a pre-production capital cost of $132 million and a post-tax payback period of 1.5 years. The post-tax NPV is $246 million with an IRR of 55%. The project is projected to generate average EBITDA of approximately US$117 million and free cash flow of US$82 million annually for the first five years. It has an initial mine life of 14 years with a throughput of 2.0 million tpa and is supported by strong infrastructure.

Ascendant Resources announced positive results from the Preliminary Economic Assessment (PEA) of its Lagoa Salgada VMS project in Portugal. The project boasts a low pre-production capital cost of $132 million, a post-tax NPV of $246 million, and an IRR of 54.9%. The average EBITDA is projected at approximately $117 million annually for the first five years. With a mine life of 14 years, the facility is expected to produce significant quantities of copper, zinc, and lead, supported by existing infrastructure. The PEA highlights the potential for future resource expansions.

Ascendant Resources announced positive results from its Phase 2 metallurgical test work on the Lagoa Salgada VMS project in Portugal. The tests, led by Grinding Solutions Limited, indicated improved metal recoveries for copper, lead, zinc, gold, and silver. Despite using oxidized samples over two years old, the results support a conventional polymetallic process flowsheet. Ascendant aims for a full pilot test in Q1 2022 to validate recovery expectations. The Company holds a 21.25% interest in the project and sees potential for significant exploration upside.

Ascendant Resources announces the appointment of Dr. Sergio Gelcich as Vice President of Exploration, replacing retiring Andy Campbell. Dr. Gelcich brings over 20 years of experience in exploration, particularly with VMS deposits. He has held senior positions at Hudbay Minerals and GlobeStar Mining, contributing to significant projects. The company aims to advance the Lagoa Salgada VMS project in Portugal, which contains 14.8 million tonnes of M&I Resources. The transition is expected to strengthen exploration efforts and expedite progress towards completing a Preliminary Economic Assessment.