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Virtual AGM was held and all matters submitted to shareholders were approved with overwhelming support
Rogue Stone's ramp-up continued at the Bobcaygeon and Orillia quarries, with strong fall sales
August-September-October sold 7,993 tons realizing $80/ton with direct expenses of $39/ton
Rogue declared Commercial Production on September 1st and filed a two-month Income Statement
A Corporate Update conference call will be held with investors on Tuesday, January 12th, 2021 at 12:00pm EST
TORONTO, ON / ACCESSWIRE / December 15, 2020 / Rogue Resources Inc. (TSXV:RRS) ("Rogue" or the "Company") is pleased to announce results of voting at its annual general meeting of shareholders, which was held virtually on December 15, 2020. As permitted by the "Notice and Access" provisions of the Canadian securities administrators, the Company's Notice of Meeting and Information Circular ("Circular") was made available on the Company's website and on SEDAR and was not mailed to shareholders. All matters submitted to the shareholders for approval as set out in the Circular, were approved by an overwhelming majority of votes cast at the meeting. These matters included: number of directors was set at seven, the current seven directors were again elected to their positions, Smythe LLP were reappointed as auditors and the Company's Equity Incentive Plan was again approved (the final item was voted on disinterested shareholder basis).
Rogue Stone Quarterly Results
Today the Company filed its Q2-2021 financials for the three months ended October 31, 2020 (available on Rogue's website or through the SEDAR filing system). For this period Rogue Stone remained in pre-Commercial Production for August but transitioned to Commercial Production on September 1st. Sales grew by month through the quarter and totaled 7,993 tons. The average realized price per ton sold was $80.41 against $38.99 in costs.
Average Realized $ per ton sold
Average Cost per ton sold
"Things are going well at the quarries, as we remain focused on safe production and following our Pandemic Protocol", said Sean Samson, President and CEO of Rogue. "We continue to deliver great quality products and service for our customers and expect a continued ramp-up into and throughout 2021. We will discuss more about our 2021 Plan, for Stone and the other assets, on the January call."
Corporate Update Conference Call
Rogue Stone progress in addition to an update on Rogue Quartz and Rogue Timmins will be discussed in detail on a conference call with management scheduled for Tuesday January 12, 2020, at noon Eastern (9am Pacific, 6pm in Western Europe). Rogue CEO Sean Samson and VP, Technical Paul Davis will give a brief presentation followed by a question and answer period. Interested investors can forward questions in advance to firstname.lastname@example.org. Dial-in numbers to access the conference call as well as a new corporate presentation will be available 24 hours in advance on the Rogue webpage at www.rogueresources.ca.
As with past calls, a playback of the call will be available online soon afterwards.
About Rogue Resources Inc.
Rogue is a mining company focused on generating positive cash flow. Not tied to any commodity, it looks at rock value and quality deposits that can withstand all stages of the commodity price cycle. The Company includes Rogue Stone selling quarried limestone for landscape applications from two operating quarries in Ontario; Rogue Quartz focused on advancing its silica/quartz business with the Snow White Project in Ontario and the Silicon Ridge Project in Québec; and Rogue Timmins with the nickel resource at Langmuir and the gold potential at Radio Hill.
The Company's Projects are under the direct technical supervision of Paul Davis, P.Geo., and Vice-President of the Company. Mr. Davis is a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information in this press release. There are no known factors that could materially affect the reliability of the information verified by Mr. Davis.
Cautionary Note Regarding Forward-Looking Statements:
This news release contains certain statements or disclosures relating to the Company that are based on the expectations of its management as well as assumptions made by and information currently available to the Company which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "believes", "anticipates", "expects", "plans", "intends", "target", "estimates", "projects", "continue", "potential" and similar expressions, or are events or conditions that "will", "would", "may", "could" or "should" occur or be achieved. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following: closing of future tranches of the Private Placement.
The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of the Company including, without limitation: business strategies and the environment in which the Company will operate in the future; commodity prices; exploration and development costs; mining operations, drilling plans and access to available goods and services and development parameters; regulatory restrictions; the ability of the Company to obtain applicable permits; the ability of the Company to service its debt obligations; the Company's ability to qualify for government funded support programs; the Company's ability to raise capital on terms acceptable to it or at all; activities of governmental authorities (including changes in taxation and regulation); currency fluctuations; the unpredictable economic impact of the COVID-19 pandemic, including the acquisition of equipment and recruitment of human resources required for the sales expansion; the global economic climate; and competition.
The Company believes that the material factors, expectations and assumptions reflected in the forward-looking statements contained in this news release are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation, those risks identified in the Company's most recent annual and interim management's discussion and analysis, copies of which are available on the Company's SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements.
The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: Rogue Resources Inc.
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