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Ascendant Resources Inc. (ASDRF) is a Toronto-based mining company focused on exploring and developing the Lagoa Salgada VMS project in Portugal. The project, located on the Iberian Pyrite Belt, is a high-grade polymetallic project with mineral endowment including zinc, copper, lead, tin, silver, and gold. Ascendant is currently finalizing amendments to its metals purchase and sale agreement with Sprott Streaming, aiming to increase its deposit against future production and the stream percentage. Additionally, the company has submitted the Environmental Impact Assessment Report for the project, showing its commitment to sustainable practices and carbon neutrality. Ascendant has achieved several milestones, including securing 80% ownership of the project, advancing in its feasibility study, and working on project financing supported by UK Export Finance. The company's focus on optimization, environmental compliance, and operational excellence positions it well for future growth and value creation.
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Ascendant Resources Inc. (ASDRF) reports significant improvements in Zinc recoveries and concentrate grades compared to the Feasibility Study. Metallurgical results show potential for lower operating costs and simplified processes. Ongoing optimization work aims to enhance revenue potential for the Lagoa Salgada Project.
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Ascendant Resources Inc. announces high-resolution gravity survey results at Venda Nova North and South Deposits, identifying potential to expand Massive Sulphide Mineralization. EDM's Option extended. New targets discovered to enhance existing mineralization and project economics.
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Ascendant Resources Inc. (TSX:ASND)(OTCQB:ASDRF)(FRA:2D9) provided a summary of significant milestones achieved in 2023 and future goals for its Lagao Salgada polymetallic project in Portugal. Key achievements include a post-tax NPV8% of US$147m, 39% IRR, and an 80% ownership in the project. The company also secured UKEF and Santander support for project financing, submitted an Environmental Impact Assessment, and engaged Synergy for carbon neutrality.
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Ascendant Resources Inc. (TSX:ASND)(OTCQB:ASDRF)(FRA:2D9) has submitted an Environmental Impact Assessment Report for its Lagoa Salgada Project to the Portuguese Environmental Authority, APA. The approval is expected by June 2024, and the company plans to construct a 30MW Photovoltaic plant as part of the environmental licensing process to reduce carbon emissions and promote sustainability.
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Ascendant Resources Inc. (TSX:ASND)(OTCQB:ASDRF)(FRA:2D9) has appointed Banco Santander S.A. as Sole Mandated Lead Arranger for up to US$158m in potential UKEF Supported Project Financing for Lagoa Salgada, Portugal. The UKEF backed facility is expected to cover 70% of the project capital expenditures for the Lagoa Salgada Project on a non-recourse project financing basis for a total tenor of 7.5 years, reducing the cost of debt to Ascendant and extending tenors. The appointment of Santander is a significant milestone for the project financing of the Lagoa Salgada Project.
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Ascendant Resources Inc. (TSX: ASND)(OTCQB:ASDRF)(FRA:2D9) has amended its existing stream agreement with Sprott Streaming for an additional US$4 million funding to further optimize the development of Lagoa Salgada. The amended agreement increases the stream percentage to 2.75% of gross metals from 1.75% and the secured note from US$15 million to US$19 million. The proceeds will primarily be used to fund development works, including metallurgical work, mine plan optimization, production scheduling, and plant size enhancements at the Lagoa Salgada project, expected to improve project economics.
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Ascendant Resources Inc. (TSX:ASND)(OTCQB:ASDRF)(FRA:2D9) is finalizing an amendment to the existing metals purchase and sale agreement with Sprott Streaming, increasing the deposit by US$4 million for its Lagoa Salgada VMS project in Portugal. The amendment aims to optimize development by focusing on improved metallurgical recoveries, concentrate qualities, and an optimized mine plan and plant sizing, with the stream percentage increasing to 2.75% of gross metals from 1.75%.
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Ascendant Resources Inc. has selected an international bank as the MLA for its Export Credit Agency Supported Non-Recourse Project Financing at its Lagoa Salgada Project in Portugal.
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Ascendant Resources strengthens technical team with appointment of process engineer
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Ascendant Resources Inc. has started the tender phase for the Mandated Lead Arranger (MLA) of its Export Credit Agency project financing program. The selection of the MLA is expected to be completed by the end of September. UK Export Finance (UKEF) has expressed an interest to provide support for up to US$190 million for the Lagoa project, representing 70% of total capital expenditure and other approved expenditures. Mark Brennan, Executive Chairman, is optimistic about completing project financing in the coming months.
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FAQ
What is the current stock price of ASCENDANT RES ORD (ASDRF)?
The current stock price of ASCENDANT RES ORD (ASDRF) is $0.03305 as of December 19, 2024.
What is the market cap of ASCENDANT RES ORD (ASDRF)?
The market cap of ASCENDANT RES ORD (ASDRF) is approximately 5.9M.
What is Ascendant Resources Inc. focused on?
Ascendant Resources Inc. is a mining company based in Toronto, focusing on exploring and developing the Lagoa Salgada VMS project in Portugal.
Where is the Lagoa Salgada project located?
The Lagoa Salgada project is located on the Iberian Pyrite Belt in Portugal.
What minerals are present in the Lagoa Salgada project?
The Lagoa Salgada project has a high-grade polymetallic mineralization with zinc, copper, lead, tin, silver, and gold.
What recent achievements has Ascendant Resources Inc. accomplished?
Ascendant Resources Inc. has secured 80% ownership of the project, finalized amendments to its metals purchase and sale agreement, and submitted the Environmental Impact Assessment Report for the project.
What sustainability efforts is Ascendant Resources Inc. focusing on?
Ascendant Resources Inc. is committed to sustainable practices and carbon neutrality, including plans for a 30MW PV plant as part of its environmental licensing process.
What partnerships and financing initiatives is Ascendant Resources Inc. involved in?
Ascendant Resources Inc. is working on project financing supported by UK Export Finance and has an agreement with Sprott Streaming to increase its deposit against future production.
What areas of focus are contributing to Ascendant Resources Inc.'s future growth?
Ascendant Resources Inc. is focusing on optimization, environmental compliance, and operational excellence to position the company for future growth and value creation.
ASCENDANT RES INC ORD
OTC:ASDRF
ASDRF Rankings
ASDRF Stock Data
5.87M
179.08M
3.29%
14.51%
Other Industrial Metals & Mining
Basic Materials
United States of America
Toronto