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Ascot Resources Ltd T.AOT

Alternate Symbol(s):  AOTVF

Ascot Resources Ltd. is a development and exploration company. The Company operates through two segments: the development of the Project and exploration and evaluation of Mt. Margaret. It is focused on re-starting the past producing Premier gold mine located in British Columbia's Golden Triangle. The Silver Coin, Big Missouri, and Premier deposits, collectively known as the Premier Gold Project (PGP) are located near the processing facility on the Premier Mine site. The PGP covers about 8,133 hectares (ha). Its Red Mountain Project (RMP) is located 23 kilometers (km), southeast in an adjacent valley. RMP consists of about 47 contiguous mineral claims for a total of approximately 17,125 ha. Its Premier and Red Mountain Gold Projects supply gold and silver ores to the process plant. It also has two other properties, including Swamp Point, an aggregate project located in British Columbia and Mt. Margaret, a porphyry copper-molybdenum-gold-silver deposit located in United States.


TSX:AOT - Post by User

Comment by molly4on Apr 04, 2022 7:07pm
286 Views
Post# 34574954

RE:Derek is a genius!!!

RE:Derek is a genius!!!It just dawned on me... When the debt facility deal was done over a year ago, the reserves both proven and probable were very clear on the FS.  NOTHING has changed to the negative in that time.  In fact it can be argued that it increased relatively signaficantly with drill results from last year. but of course those results are not part of the FS study calculations.  So reserves have not changed. That tells me that Sprott changed their terms for whatever their reasons(and there is a lot of speculation as to what those reasons would be) but it is clear they changed their terms.  So how is that Ascots fault. In fact good on them for not trying to cowtow to a ridiculous demand.   Nothing has changed in my mind other than the fact that they have to replace the $80 million facility.  I personally dont think that will be a problem  Will take a few months as due diligence has to happen all over. JMHO  
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