Business
Rogue Stone Update: Commercial Production, More Than $1M in Sales of Landscape Stone to Date, Update Call Next Wednesday
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES Ramp-up c...
About this update from Clean Energy Transition Inc.
[{"type":"text","content":"Rogue Stone Update: Commercial Production, More Than $1M in Sales of Landscape Stone to Date, Update Call Next WednesdayNOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICESRamp-up continued at the Bobcaygeon and Orillia quarries, with a strong summer continuing into fallMay-June-July sold 5,409 tons realizing $82/ton with direct expenses of $42/tonAugust sales were 2,422 tons, averaging $85/ton and September sales were 2,668 tons, averaging $80/tonTotal sales for June-July-August allow Rogue Stone to declare Commercial Production as of September 1stA Corporate Update conference call will be held October 14th at 12:00pm EDTTORONTO, ON / ACCESSWIRE / October 7, 2020 / Rogue Resources Inc. (TSX-V:RRS) (\"Rogue\" or the \"Company\") announces that its limestone business, referred to as \"Rogue Stone\", continues to deliver and stays on-track with its acquisition models.Last week the Company filed its Q1-2021 financials for the three months ended July 31, 2020 (available on Rogue's website or through the SEDAR filing system), the Bobcaygeon quarry had completed 9 months of operations and sales but remained in pre-Commercial Production, while the Orillia quarry had completed 5 months of operations and sales and also remained in pre-Commercial Production as of the end of July. During that period of May-June-July, Rogue Stone reported it had sold 5,409 tons of limestone, for Sales Receipts of $444,680, averaging $82.21 per ton sold. Expenses directly related to those Sales Receipts totaled $225,756 and expenses related to Site Preparation and Rehabilitation totaled $59,202.Subsequent to the end of Q1, the Company had sales of 2,422 tons in August, for Sales Receipts of $206,951and 2,668 tons in September for Sales Receipts of $213,278. Importantly, the three months of June-July-August sold more than 7,000 tons, exceeding two-thirds of the licensed capacity (6,600 tons/month) benchmark and allows the Company to declare Rogue Stone has entered into Commercial Production. The passage into Commercial Production means that Rogue will shift from capitalizing its expenses to the balance sheet and begin releasing an income statement that includes the Rogue Stone business. Rogue's next quarterly filing, for the three months ended October 31, 2020, will include Revenue and Cost of Goods Sold for the months of September and...