Post by
Forbesa13 on Apr 04, 2022 10:35am
Financing & Management
When the financing was originally being negotiated, Ascot retained outside legal and accounting expertise to help them review their options. I find it quite funny then that what cratered this financing was a mining condition, something that should have been in Ascot's ability to control and/or mitigate. Perhaps they should have hired an outside mining company as well to review the financing terms and conditions, maybe then we wouldn't be in this mess. What's worse though is that we couldn't get Sprott to waive/amend the condition...
While I do believe we're ultimately heading in the right direction, I have no faith in management actually delivering on anything they say. We've had cost overruns, multiple rounds of equity raises (and likely another 1 at least coming up), lost equipment, and more delays to the timeline than I can count. I've followed this company since prior to Derek joining and I don't think he's hit 1 stated timeline since he joined. Not sure what to do with this anymore.
Comment by
TrueGold on Apr 04, 2022 12:27pm
SERIOUSLY!!!!! Again more of the same SH!T. Man I was right on complaining about management 2 years ago. I agree, someone buy these guys out already. What a waste of time and opportunity with other stocks having my $$$$ tied up in this POS.