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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, 2021 1:36am
239 Views
Post# 32934687

RE:More dilution on the way

RE:More dilution on the wayNot sure where the ascertation that they have to raise another $20 million comes from.  They are, as far as I can see, fully funded. Please let me know how you came up with that.  Once the last announcement was made with the real numbers putting us at $176 million, Ascot could finally put a real number on the this last raise.  They could not get a short term loan to cover it as the debt deal from Sprott stipulated that the last bit was an equity requirement.  They had until June to do  that.  I am Guessing the BOD wanted to get this finalized in order to drive on and take all the financing uncertainty out of the deal.  That is now done. There are no warrants in the raise, which is good.  As I previously said, I am not sure why we had to discount 16 percent but I would think the comapny took the best deal presented to them.  Just my guess but after this closes I will ask the question when I get the opportunity. We are now one more bifg step closer to production, and that is a good thing for me.    
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