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Bullboard - Stock Discussion Forum Ascendant Resources Inc T.ASND

Alternate Symbol(s):  ASDRF

Metals & Mining Industrial Metals & Minerals
Ascendant Resources Inc. is a Canada-based mining company focused on the exploration and development of the highly prospective Lagoa Salgada volcanogenic massive sulphide (VMS) project located on the prolific Iberian Pyrite Belt (IPB) in Portugal. The Lagoa Salgada Project is located within the north-western section of the prolific Iberian Pyrite Belt in Portugal, approximately 80 kilometers... see more

TSX:ASND - Post Discussion

Ascendant Resources Inc > Answer to the question on CEO.CA
View:
Post by 101724 on Jul 05, 2023 8:20am

Answer to the question on CEO.CA

Q: isnt initial capex around 130mln ?

70% of the $190million will cover pre-production cost. The remainder will cover their interest payments and insurance costs. When you borrow money, you still need to make your monthly interest payments. This will cover that but not the principal.
Comment by 101724 on Jul 05, 2023 9:18am
Better explanation. Ascendant is going to college. Tuition is $130million. Since Ascendant has no income, they take out an addition $60million to cover their monthly interest owed on their loan so they don't default and get kick out of school. 18 months later, Ascendant graduates and enters the workforce. Their monthly loan payment shows up in the mail. They look at it and wonder why the loan ...more  
Ascendant Resources Inc
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