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Ascot Resources ( (TSE:AOT) ) has shared an update.
Ascot Resources Ltd. has announced a delay in the underground development of its Premier Gold Project due to a shortage of trained labor, which has affected its timeline for restarting mill operations. The company now expects ore throughput to commence in July 2025 and is working on finalizing a revised schedule and budget. This delay is likely to result in a working capital shortfall, and Ascot is engaging with shareholders and financial institutions to address the funding gap. The company remains committed to transparent communication with its stakeholders as it seeks potential financing solutions, although there is no certainty that the necessary capital will be raised.
More about Ascot Resources
Ascot Resources Ltd. is a Canadian mining company headquartered in Vancouver, British Columbia. It operates 100% of the Premier Gold mine, located on Nisga’a Nation Treaty Lands in the Golden Triangle of northwestern British Columbia. The company is listed on the Toronto Stock Exchange under the ticker AOT and the OTCQX under the ticker AOTVF.
YTD Price Performance: -2.63%
Average Trading Volume: 1,140,484
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$181.8M
See more insights into AOT stock on TipRanks’ Stock Analysis page.
