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Ascot Resources Reports Second Quarter 2023 Results and Provides Construction Update on Premier Gold Project
VANCOUVER, British Columbia, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce t
About this update from Cambria Gold Mines Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce the Company’s unaudited financial results for the three months and six months ended June 30, 2023 (“Q2 2023”), and also to provide a construction update on the Company’s Premier Gold Project (“PGP” or the “project”), located on Nisga’a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia. For details of the unaudited condensed interim consolidated financial statements and Management's Discussion and Analysis for the three and six months ended June 30, 2023, please see the Company’s filings at www.ascotgold.com or on SEDAR+ (www.sedarplus.ca). Derek White, President and CEO, commented, \"Construction activity at the Premier Gold Project continued to increase in the second quarter, with much progress being made on the critical outdoor and earthworks areas, including the tailings storage facility and new water treatment plant. As of Q2 2023, detailed engineering and major procurement are substantially complete, and project construction excluding mine development is at 48%. Additionally, at the corporate level we have made steady progress on important agreements including the signing of a 3-year mining contract with Procon, the US$15 million equipment lease facility with CAT Financial, and the US$14 million convertible facility with Nebari. The 2023 exploration program has been steadily progressing, with encouraging results encountered in both the drilling program and the IP geophysics program. We anticipate starting to release exploration results in the coming weeks as we receive them.” All amounts herein are reported in $000s of Canadian dollars (“C$”) unless otherwise specified. Q2 2023 AND RECENT HIGHLIGHTS The earthworks contract for the tailings storage facility was signed in March 2023 and the contractor was mobilized to the site in April 2023. Tailings pond de-watering was completed in June 2023 and the construction of the tailings storage facility commenced. On April 20, 2023, the Company closed a previously announced non-brokered private placement (the “Offering”). The Offering raised total gross proceeds of $4,050 and consisted of 5,000,000 common shares of the Company, which qualify as \"flow-through shares\" within the meaning of t...