Rogue Update: Appoints new CFO, Landscape Stone Sales continue through February and March.

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Rogue Update: Appoints new CFO, Landscape Stone Sales continue through February and March.

by ahnationtalk on April 12, 202136 Views

  • Experienced public company CFO joins Rogue management team
  • In February-March Rogue Stone sold 3,313 tons realizing an average price of $74/ton
  • Average value of limestone sold rises as expected with increased demand for higher value products

TORONTO, ON – Rogue Resources Inc. (TSX-V: RRS) (“Rogue” or the “Company”) is pleased to announce the appointment of Mr. Travis Gingras as Chief Financial Officer (“CFO”) of the Company. Mr. Gingras will replace Sean Samson, who has recently acted as Interim CFO.

Travis Gingras is a CPA, CMA and holds an MBA. He has more than twenty years of experience in finance, strategic planning, project management, accounting policy and financial reporting. Travis previously held CFO and executive level positions in a number of publicly traded exploration and mining companies including as CFO of Integra Gold Corp (formerly TSXV:ICG, purchased by Eldorado Gold in 2017).

“It’s great to welcome Travis as CFO”, said Sean Samson, President and CEO of Rogue. “Travis has a proven track record of sound leadership and financial expertise with public companies and we look forward to him joining the team.”

Rogue Stone – February and March Update

Quarry Operations at the Orillia Quarry have continued through the winter and early spring with strong demand for Rogue’s limestone products. During the months of February and March, the Company sold a total of 3,313 tons of limestone for gross revenue of $244,235 and are in line with the sales expectations following the closing of the 3rd quarter on January 31, 2021. Rogue Stone also observed the expected increase in the value of the limestone sold as the demand for the higher value limestone products, including steps, wall stone and flagstone, begins to pick up with the arrival of spring and the warmer weather.

Period Tons Average Realized Revenue Average Cost of Goods
per ton sold (“COGS”) per ton sold
Q3-2021 6,914 $70 $37
November 2020 – January 2021
February – March 3,313 $74 To be announced with
Q4-2021 results

“As we approach our first full year of operations with both quarries, we are pleased to see that the demand and sales of limestone are continuing to meet or exceed expectations.”, said Sean Samson, President and CEO of Rogue. “We anticipate that our sales will continue to increase through the spring and summer with rising revenue per ton sold as our sales mix shifts to more high value products.”

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; Rogue Timmins with the gold potential at Radio Hill and an ownership position in the private company EV Nickel, exploring in the Shaw Dome.

Qualified Person

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.

For more information visit www.rogueresources.ca or contact:

+1-647-243-6581

[email protected]

NT4

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