Ascendant Resources Inc. reported production results for the month and fourth quarter and full year ended December 2017. Milled production for the month of December was 69,578 tonnes (or an average of 2,399 tonnes per operating day). This represents the strongest month of production achieved at the El Mochito mine during 2017, and an overall increase in production of 81% since January 2017, a significant accomplishment only a year after acquiring the operation.

Milled production for the fourth quarter was 198,355 tonnes (or an average of 2,241 tonnes per operating day) representing a 13% improvement over third quarter production of 176,037 tonnes (or an average of 1,934 tonnes per operating day). Operations have continued to benefit from the ongoing improvement programs within the operating environment and the introduction of new mining equipment. During the fourth quarter, contained zinc equivalent metal production was 19.6 million pounds, up by 12% from the third quarter.


Total contained metal production for the 2017 calendar year was 66.1 million pounds of zinc equivalent exceeding the Company's guidance of 65.8 million pounds.

The company provided production and earnings guidance for the full year of 2018. For the year, the company expects zinc equivalent metal production of 93 million lbs to 109 million lbs, zinc production in the range of 65 million lbs to 73 million lbs, lead production of 24 million lbs to 28 million lbs and silver production of 900,000 ozs to 1,200,000 ozs. The company expects capital expenditure in the range of $16 million to $18 million, adjusted EBITDA in the range of $32 million to $40 million and free cash flow in the range of $14 million to $20 million.