Ascot Resources (TSX. AOT)
CEO Derek White has featured in a (sponsored) podcast. He ran through the latest exploration news and plans, as well as referring to the ongoing mine financing and restart plans.
The highlight of the recent drilling was 13.74g/t Au over 24.15m in hole P20-2202, including 40.78g/t Au over 6 m in the same hole.
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Ascot Resources (TSX. AOT)
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CEO Derek White has featured in a (sponsored) podcast. He ran through the latest exploration news and plans, as well as referring to the ongoing mine financing and restart plans.
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The highlight of the recent drilling was 13.74g/t Au over 24.15m in hole P20-2202, including 40.78g/t Au over 6 m in the same hole. Other holes included 15.75g/t Au over 4.50m in hole P20-2197, and 9.91g/t Au over 4.25m in hole P20-2203.
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This is a sponsored podcast, which I normally don’t like. The reason being that for this kind of commissioned interview, clearly no tough questions will be asked, (they are almost certainly agreed beforehand), and it is more of an advert for the company that a probing discussion. Having listened to this interview however, it is useful as Derek White is simply running through where the company are, where they are heading, and the reasoning behind certain recent decisions they have taken recently.
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I like Ascot because they can bring a former producing mine back into production fairly quickly and reasonably cheaply, in a tier one jurisdiction, and they also have extensive exploration opportunities within their licence area for new, potentially high grade, discoveries.
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White refers to some shareholder unhappiness regarding recent management decisions, but the key phrase is “we’re on our way”, which seems to sum up his winning attitude in what could become a low cost, high grade, producing mining company in short order.
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Sadly us investors, on the outside looking in, often become impatient with companies due to our not understanding the inner workings and not being privy to real progress being made.
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The oft coined phrase about investing being the “transfer of wealth from the impatient to the patient” may well be appropriate here.
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Ascot Resources
Is a Canadian mineral development company publicly traded on the Toronto Stock Exchange. Their focus is to re-start the historic Premier gold mine, a mine once named North America’s largest gold mine, located just 25 kilometres from the town of Stewart, in northwestern British Columbia in a prolific area known as the Golden Triangle.
In January 2020, the Company announced high-grade resources sufficient to complete a feasibility study on the resumption of mining and milling operations at Premier. The project would substantially benefit from the 100% owned mill and related infrastructure remaining at the Premier mine site.
The Company is rapidly advancing the feasibility study and permit amendments necessary for project approval. In addition, the Company will continue to drill a number of gold-silver discoveries on its 25,000 hectares of mineral concessions that benefit from their proximity to Premier and the towns of Stewart, B.C and Hyder, Alaska.
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andrew@city-investors-circle.com
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