Ascot Resources (TSX:AOT) closes $200M financing package

Ascot Resources (AOT) has completed the final documentation for $ 200 million in project financing for the construction of the Premier Gold Project The financing package consists of US$ 110 million as a deposit in the form of gold and silver streaming agreements with Sprott Private Resource Streaming and Royalty B Corp. and a $ 45 million investment by Ccori Apu S.A.C With the finance package closed, Ascot is able to proceed with re-mobilizing of contractors for project construction in 2023, with initial gold production anticipated in early 2024 Derek White, President and CEO of Ascot, joined The Market Herald’s Coreena Robertson to discuss the news Ascot Resources Ltd. (AOT) opened trading at C$ 0.72 per share

Ascot Resources (AOT) has completed the final documentation for $ 200 million in project financing for the construction of the Premier Gold Project.

The project is located on Nisga’a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia.

The finance package consists of US$ 110 million as a deposit in the form of gold and silver streaming agreements with Sprott Private Resource Streaming and Royalty B Corp. and a $ 45 million equity investment by Ccori Apu S.A.C

With the finance package closed, Ascot is able to proceed with the re-mobilizing of contractors for project construction in 2023 ahead of initial gold production, which is anticipated in early 2024.

Derek White, President and CEO of Ascot, joined The Market Herald’s Coreena Robertson to discuss the news.

 “We commend our financing partners, Sprott Streaming and Ccori Apu for working diligently over the past month to expeditiously close the C$ 200 million financing package. We view the financing package as attractive as it preserves Ascot’s operational flexibility and enables the Company to advance towards production with minimal debt. With funding secured, we look forward to refocusing our efforts on project construction this year and becoming Canada’s next gold producer.”

Ascot Resources Ltd. is a Canadian junior exploration and development company.

Ascot Resources Ltd. (AOT) opened trading at C$ 0.72 per share.

The post Ascot Resources (TSX:AOT) closes $ 200M financing package appeared first on The Market Herald.

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