Where Chinese Investors Meet Global Investment News and Opportunities

中國投資者探索環球投資新聞及機遇

Ascot Resources Ltd (TSXV:AOT)

Summary

Ascot Resources Ltd (TSXV: AOT.V, OTCOX: AOTVF) is a TSX Venture listed junior exploration company based in Vancouver, Canada. The company is focused on re-starting the past producing historic Premier gold mine, once North America’s largest gold mine, located in BC’s Golden Triangle.

Market Overview

$1.390 (0.720%)
Vol 23,553.00
10 Days Avg Vol 17,818.75
3 Mo Avg Vol 36,479.09
52 Wk Lo/Hi $0.000 - $0.000
YTD Price Gain % -100%
12 Wks Moving Avg 0
200 Days Moving Avg 0
Market Cap 205,460,441

Updated: Market Close, 05/21/2018

Company Background

Ascot Resources is a Vancouver based junior exploration company publicly traded on the TSX Venture Exchange, focused on re-starting the past producing historic Premier gold mine, once North America’s largest gold mine, located in British Columbia’s Golden Triangle. The Company’s near-term strategic goal is to define a new high-grade resource for underground mining, while continuing to explore nearby targets on its Premier-Dilworth properties, situated just 25 kilometres north of the town of Stewart. The Company also has two other projects; Swamp Point, an aggregate project located in British Columbia on the Portland Canal and Mt. Margaret, a porphyry copper-molybdenum-gold-silver deposit located in Washington State, USA.

Highlights

  • 6110 drill holes consisting of ~625,000m of drilling
  • High-grade advanced gold project; ~1 in 10 holes has hit 1 oz gold per tonne or better
  • Superior existing infrastructure:
    • ~3,000 tpd mill
    • Tailings dam
    • Dewatered and ventilated underground mine
    • Water treatment plant
    • Excellent road and port facilities near Stewart, BC
  • Exploration upside with 70% of the property not yet explored
  • C$20M private placement by Eric Sprott in 2016
  • C$16M in cash with no debt (as at Dec 31, 2017)
  • New management with proven track record of value creation for shareholders
  • The updated NI 43-101 resource estimate for the Premier-Northern Lights zone (as at May, 2018) resulted in the following additional resources:
    • 281,059 AuEq oz in the indicated category (1.21 Million tonnes (“Mt”) grading 7.23g/t AuEq at 3.5g/t AuEq cut-off)*
    • 319,675 AuEq oz in the inferred category (1.64 Mt grading 6.18g/t AuEq at 3.5g/t AuEq cut-off)

* Gold equivalence was calculated using a ratio of 65:1 Ag:Au and Ag recovery of 45.2%

Share Structure

As of March 31, 2018
Shares Issued 152,251,614
Warrants 17,305,000
Options 10,160,994
Fully Diluted 179,717,608

Other Information

Projects:

The Premier-Dilworth property - located 25 kilometres from the town of Stewart, in the prolific Golden Triangle, in northwestern British Columbia. Stewart is situated at the end of the Portland Canal across the border from Alaska and has excellent infrastructure, including a paved highway to major transportation routes, a salt water port and extensive hydro power facilities for supporting mining and mineral exploration activities. The Mount Margaret porphyry copper-molybdenum-gold-silver deposit is located 22.5 km southwest of Randle Washington in Skamania county in Southwest Washington State. Ascot obtained property title to the 50 percent undivided private mineral interests on the lands on a private land package MS-708 and the government of the United States owns the other 50 percent interest. Ascot has the right to earn a 100% interest subject to a 1.5 NSR and a negotiated federal royalty. The Swamp Point aggregate deposit is located on the east side of the Portland Canal on the northern coast of British Columbia. Ascot owns 100% of the License of Occupation, which covers the sand and gravel deposit where the project is based, and the Foreshore License, which covers part of the foreshore area beside the deposit, and two mineral claims which in part underlie the gravel deposit.

Management Profiles

DEREK WHITE

PRESIDENT & CEO

Derek White has over 30 years of experience in the mining and metals industry. He holds an undergraduate degree in Geological Engineering from the University of British Columbia and is also a Chartered Accountant. Prior to joining Ascot Resources Ltd. Mr. White, was the Principal of Traxys Capital Partners LLP, a private equity firm specializing in the mining and minerals sectors. Mr. White was President and CEO of KGHM International Ltd. from 2012 to 2015, and also held the positions of Executive Vice President, Business Development and Chief Financial Officer of Quadra FNX Mining Ltd. from 2004 to 2012. Mr. White has held executive positions with International Vision Direct Ltd., BHP-Billiton Plc, Billiton International Metals BV and Impala Platinum Ltd., in Vancouver, Toronto, London, The Hague, and Johannesburg. Mr. White is also an ICSA Accredited Director.

JOHN KIERNAN

COO

John Kiernan is a Mining Engineer with over 30 years of mine operating, engineering, consulting, corporate and financial experience, including a cumulative four years as an underground miner and operating foreman. He was most recently VP Project Development for Magellan Minerals (acquired by Anfield Gold Corp), and is also a director of Kapuskasing Gold Ltd. Previously he was Manager Project Evaluation for QuadraFNX/ KGHM International, Mining Analyst for PI Financial Corp and VP Mining/Mine Manager for Roca Mines Inc. In the period from 1987 to 2006, Mr. Kiernan held various senior engineering positions with Strathcona Mineral Services, Inco Ltd., Wardrop and AMEC. Mr. Kiernan has a B.Sc. in Mining Engineering from Queen’s University, and an MBA from Laurentian.

CAROL LI

CFO

Carol Li is a Canadian Chartered Professional Accountant (CPA) with over 20 years of financial and executive management experience. Prior to joining Ascot Resources Limited in November 2017, Ms. Li spent eight years at Quadra Mining Ltd./Quadra FNX Mining Ltd. as Corporate Controller and then five years at its successor KGHM International Ltd. as Vice President, Finance. She was a key member in the leadership team that transitioned the company from one mine junior producer to a multi-national company with six operating mines and three development projects. Before joining Quadra Mining, Ms. Li held various senior financial roles at Cartier Partners Securities and FPC Investments Inc.

KRISTINA HOWE

VP, INVESTOR RELATIONS

Kristina Howe is experienced communications, media & investor relations professional with a broad range of experience in mergers and acquisitions, both within the mining sector and investment banking. Prior to joining Ascot Resources Limited in November 2017, Ms. Howe consulted to Traxys Capital Partners LLP, a private equity firm specializing in the mining and minerals sectors. From 2009-2015, Ms. Howe worked for Quadra Mining Ltd./Quadra FNX Mining Ltd. in Business Development and Investor Relations and was involved in a number of significant transactions during that period, including the merger with FNX in 2010 and the takeover of Quadra FNX by KGHM Polska Miedź SA in 2012. Ms. Howe has also worked for numerous investment banks, including Goldman Sachs in the U.K. and Citigroup in Melbourne, Australia. Ms. Howe has a B.A. from Carleton University.

DIANNA STOOPNIKOFF

VP ENVIRONMENTAL AND REGULATORY AFFAIRS

Dianna Stoopnikoff has over 28 years of experience in EHS regulatory compliance, permitting projects, and relationship building. Prior to joining Ascot in 2016, Ms. Stoopnikoff held leadership roles at Fortune Minerals, Abacus Mining/KGHM International, Nova Gold and New Gold. Ms. Stoopnikoff has an environmental sciences degree in chemistry from BCIT.

JODY HARRIS

CORPORATE SECRETARY

Jody Harris has over 20 years’ experience as a Corporate Secretary in the mining industry. Ms. Harris is also a Corporate Secretary of MAG Silver Corp. and has been involved in raising over $300 million in equity financings during her 11-year tenure. Ms. Harris is an Accredited Director (Acc.Dir) and a Chartered Secretary, both designations obtained from the Institute of Chartered Secretaries and Administrators (ICSA).

Do NOT follow this link or you will be banned from the site!