Ascendant Resources Inc. (OTC:ASDRF) Stock Gains Momentum: Here Is Why
Fresh updates about specific projects are always welcome for market participants, and hence, it would be interesting to see how investors react to the announcement from Ascendant Resources Inc. (OTC:ASDRF) yesterday. The company made an announcement yesterday with regards to the continued progress it had been making in its project in Portugal.
Flagship Project Update
The company revealed that the development of the Lagoa Salgada VMS Project, situated in the Iberian Pyrite Belt in Portugal, was ongoing. More importantly, it was pointed out that some of the recent positive developments in terms of permitting, exploration, metallurgy, and feasibility optimization had further strengthened the possibility of the project turning into a significant polymetallic entity with global significance.
The company also stated that it would continue to work on the targets that had been identified recently for continued development. Additionally, more improvements and metallurgical testing were going to take place at the site.
Further Information
The company, which is based out of Toronto, also shares a number of directors and officers with Gerrardo Gold Inc. However, in the news release, it was noted that the two companies were not ‘related parties’ as per the definitions in the applicable laws.
Management Quote
Mark Brennan, Chairman of Ascendant and Cerrado, commented: “Cerrado is pleased to support Ascendant as it develops the Lagoa Salgada Project, a highly prospective asset with the potential to become the next world-class VMS deposit on the Iberian Pyrite Belt. Ascendant continues to successfully advance the Lagoa Salgada Project, creating long-term value for stakeholders.”
