Rogue Resources acquires two Ontario quarries

By |  August 23, 2019

Rogue ResourcesRogue Resources has entered into an agreement to acquire 100 percent of Speiran Quarry and 85 percent of Johnston Farm Quarry from Ontario, Canada-based private companies.

According to Rogue, the Speiran Quarry, based in Orillia, Ontario, will be now be referred to as Orillia Quarry, while the Johnston Farm Quarry, based in Bobcaygeon, Ontario, will be referred to as the Bobcaygeon Quarry.

“Rogue has remained steadfast in its effort to find assets with high rock value, in a good jurisdiction and close to cash flow and these quarries are both great examples of checking each of those boxes,” says Sean Samson, president and CEO of Rogue. “These acquisitions will be a direct result of this focus and will strengthen our project portfolio. Also, acquiring a business with historical cash flow, for which we’ve been able to negotiate purchase orders, allows us to tap into sources of less dilutive financing.”

The Speiran Quarry, now known as Orillia Quarry, consists of privately-owned parcels across 81 hectares. It has a Class B Aggregate License to extract up to 20,000 tons of natural stone per year, and produces armour stone, steps and flagstone.

The Johnston Farm Quarry, now known as Bobcaygeon Quarry, consists of a privately-owned parcel representing 40 hectares. Like the Orillia Quarry, the Bobcaygeon Quarry also has a Class B Aggregate License to extract up to 20,000 tons of natural stone per year and has historically produced armour stone, steps and flagstone.

Rogue Resources will be paying $1.35 million for the Speiran Quarry and $200,000 for the Johnston Farm Quarry.

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