Source: Ascendant Resources Inc.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Ascendant Resources (ASND) has amended the terms of the earn-in and call option agreements with Mineral & Financial Investments AG (M&FI)
  • This is to provide the company an extension to June 22, 2023 in order to complete the feasibility study to earn an 80-per-cent interest in the Lagoa Salgada Project
  • The company anticipates completing the feasibility study by the first quarter of 2023
  • Ascendant is a Toronto-based mining company
  • Ascendant Resources Inc. opened trading at $0.175 per share

Ascendant Resources (ASND) has amended the terms of the earn-in and call option agreements with Mineral & Financial Investments AG (M&FI).

This is to provide the company an extension to June 22, 2023 in order to complete the feasibility study to earn an 80-per-cent interest in the Lagoa Salgada Project.

Ascendant will only exercise call options further diluting M&FI’s interest, thereby maintaining its indirect 80 per cent interest in the project.

This will be after six months of Ascendant increasing its ownership of Redcorp to 80 per cent or immediately after Empresa de Desenvolvimento Mineiro S.A.’s election to participate in the project.

The company anticipates completing the feasibility study by the first quarter of 2023.

“We are pleased to complete this amendment with our partners,” noted Mark Brennan, Executive Chairman.

“The additional time to complete our feasibility study, while not critical, also allows us the flexibility to pursue some of the exciting exploration opportunities we are witnessing at Lagoa Salgada in parallel with completing our infill campaign and feasibility work,” he added.

Ascendant is a Toronto-based mining company focused on the exploration and development of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal.

Ascendant Resources Inc. opened trading at $0.175 per share.

More From The Market Herald

" ValOre Metals (TSXV:VO) announces $2.5M private placement

ValOr Metals (VO) has announced a non-brokered private placement for gross proceeds of up to $2,500,000.

" Sigma Lithium (TSXV:SGML) preparing Phase 1 pit for mining

Sigma Lithium’s (SGML) construction remains on schedule for its Phase 1 production plant and mine at its Grota do Cirilo Project.
Contact Gold - Overview of Green Springs Project

" Contact Gold (TSXV:C) reports Q2 2022 financial & operating results

Contact Gold Corp. (C) released its financial and operating results for Q2 2022.

" Goldcliff (TSXV:GCN) samples 170 g/t silver at Kettle Valley

Goldcliff Resource Corporation (GCN) has reported that follow-up surface sampling at the Kettle Valley Gold-Silver Project in B.C. has yielded strong silver values.