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Ascot Resources Reports 2024 Annual Results
VANCOUVER, British Columbia, March 24, 2025 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) announces the Company's
About this update from Cambria Gold Mines Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, March 24, 2025 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) announces the Company's audited consolidated financial results for the year ended December 31, 2024. For details of the audited consolidated financial statements, Management's Discussion and Analysis, and Annual Information Form for the year ended December 31, 2024, please see the Company's filings on SEDAR+ at www.sedarplus.ca. All amounts herein are reported in $000s of Canadian dollars (“C$”) unless otherwise specified. 2024 AND RECENT HIGHLIGHTS On February 20, 2024, the Company closed a financing package for a total of US$50 million from Sprott Resource Streaming and Royalty Corp. and its affiliates (“SRSR”) and Nebari Credit Fund II, LP (“Nebari Credit Fund II”), as described in the Company’s news release dated January 22, 2024. $13,700 of the above proceeds were used to buy back two existing 5% NSR royalties on various PGP property claims on March 15, 2024. Concurrently with the above-noted financing package, the Company closed a bought deal private placement financing, under which the Company issued a total of 65,343,000 common shares of the Company (the “Common Shares”) at a price of $0.44 per Common Share, for gross proceeds of $28,751. At the end of Q1 2024, construction of the PGP mill and water treatment plant was substantially completed, and rock was introduced into the grinding circuit of the mill on March 31, 2024, and first gold-bearing ore was introduced to the mills on April 5, 2024. On April 20, 2024, first gold was poured as a part of the commissioning process. Commissioning of the plant continued throughout Q2 and Q3 2024. During Q2 and Q3 2024 before the suspension of operations, the plant processed 156,477 dry tonnes of mostly development ore in the commissioning of the mill. In August 2024, the mill processed, near its design capacity, over 2,300 tpd for its 14 days operating schedule continuously. On May 7, 2024, the Company announced a $5,000 non-brokered flow-through private placement, the proceeds of which will be used to fund the exploration program at PGP. The private placement consisted of 6,024,096 common shares of the Company, which qualify as \"flow-through shares\" within the meaning of the Income Tax Act (Canada) (the “FT Shares”), at a price of C$0.83 per ...