Ascot Resources Ltd T.AOT

TERRIBLE!!!! PART 1. 2. 3. 4. 5. 6. etc....

[crazytimes]

1. The Company has negative working capital at the end of June and was in technical non-compliance with certain covenants. The Company obtained waivers for this non-compliance through the end of July. After the bought deal financing closed on July 25, 2025, the Company was back in compliance with the covenants. If production ramp up is further delayed, the Company may be in non-compliance with such covenants. Additional waivers or fundings may be required.

2.Overall, the commission process has gone slower that expected due to a combination of challenges with process plant and lower grades from the development ore from the Big Missouri mine. The key challenge for the Company is to access higher grade stopes from Big Missouri and mine enough material to feed the mills until the PNL is brought into production which is anticipated in Q4 of 2024. In addition, the reliability of the plant in the gravity circuit, the elution circuit and the tailing thickener need to improve so the that the plant can operate continuously. The Company continues to focus on addressing these challenges.

3.the plant will be operated on a bi-weekly basis until such time that PNL is contributing to the mill feed.

4. management is working on a two-week maintenance period to address the capacity of the gravity circuit by improving the screen openings to allow more flow, optimizing CIL management and the reliability of elution circuit, and improving the flocculant system for the thickener to ensure clean water is effectively circulated through the processing plant

5.anticipation of breakthrough to the Prew ore zone in early September, but the key challenge will be to manage the operating costs effectively until this development is completed.

6. GO BACK AND SEE POINT ONE WHERE ADDITIONAL WAIVERS AND FINANCING MAY BE NEEDED!!!!!!

NOT GOOD! Didn't like the late Friday after market dump of all this bad news!!!! Just My Opinion! 

[Beerman]

I kinda like they are shutting down the mill a bit. Should help work the kinks out and hopefully bring back on line in time for the PNL ore. 

[wildhorse65]

It makes me a little suspicious when the "key challenge" will be managing the operating costs "effectively" until this development is complete. I don't take all day in the rain to get wet. That is a CLEAR signal that they are going to continue to pilfer regardless of the loss of value to shareholders. Prove me wrong.

[crazytimes]

wild... incredible how this is up after that report. Was expecting it to get slaughtered today and to be pissed off and averaging down but here it is up 12%! lol. These markets are completely nuts at this point! Pure casino!  I'll take it as a totally undeserved dumb luck win at the table though and am cashing out here completely! I have no idea where this will go, up or down, as it seems

[Kruithof]

Good thing you cashed out at the bottom

[Kruithof]

$1.25 let's go!

[crazytimes]

kruit.... follow my trades... locked about 50% in profit so far swinging this puppy and it's only a few cents over where I sold it right now after I took profits again after what i think was a terrible quarter and rolled the cash into another stock that's currently running up. lol. . Can you say the same. If you think that's cashing out at the bottom I don't know what to tell you

[Kruithof]

Haha, you sold at the bottom haha

[ACESover]

Sorry, I missed your multi coloured and highkighted post. I guess I need glasses. LOL. Any more bad news that you can throw our way. LOL ACE$

[Shadow10]

Acesover Crazytimes should know you can not release Good or Bad news while the stock market is open. Is Ascot going in the wrong direction for him?