Ascot Resources Ltd T.AOT

Derek is a genius!!!

[Mustlovedogs01]

It just dawned on me...no CEO could be this bad!  He is a friggin genius!  Think about it...Derek is the CEO of a derisked "gold" property.  The project has had 43101 studies done that have not only past economic successes but, with flying colours. Permitts are in hand.  It was one of the nearest term projects in Canada I believe with the fundamentals supporting if not screaming for such a commodity.  Again, no CEO could be this bad with such validations behind the project.  Then why?  Derek you genius...you old dog you!  He diluted the farm out of AOT, has the enthusiasm of a dead fish in the podcasts, can't buy a share in the open market, even at what could be argued to be basement prices, ( we will see when the bleeding stops!),etc...why,...should I tell them Derek?  Okay, I will tell them...he wants more cheap shares for free in the next financing, options etc?  Again, if no CEO can be this bad time after time then this is the only reason why "any Board", would not dismiss him.  Do they all have their hand in the cookie jar?  Time for a takeout, or shame on any suitor that doesn't hear the cry from investors!!!!  All in my opinion!  GLTA
P.S. Derek, have you been able to find the exact date when the "clarifier fell of the ship"?  The word "RECENTLY informed doesn't pass the smell test!!!  JMO glta

[molly4]

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

[calmandquiet]

Sprott got burned on PGM. Now they want Ascot to dilute the equity holders to tighten up the drilling because their confidence is shaken. Derek said no, which was the correct response in my opinion. Ascot will get money from the streamers or another lender.  So be it. The NAV is unchanged. The analysts are cutting NAV based on the mine start being delayed by a quarter or two quarters. Not

[Taupo65]

"Multiple parties have already done due diligence on the property." And did they invest or run away?

[calmandquiet]

I suspect that the other debt lenders were going to require some gold price hedging for the first couple years, which Derek has said previously that he was trying to avoid. Sprott did not require the hedging so they won the deal. Ascot made the right decision here by finding a new lender. Sprott wanted a significant portion of the first year's production to be drilled to proven spacing

[BGraham2]

C&Q: Is it a big deal to you that economics was done only on indicated at PGP? Is this the sort of thing that killed PGM? - not really in tune with that story. TIA; BG

[calmandquiet]

Every developer I've invested in has had at least one major problem during construction or initial production, sometimes more than one. But so far that problem has never been that the initial reserves were probable rather than proven.  I haven't wrapped my head around what went wrong with PGM. There's a handful of theories floating around which sound plausible. One theory posted