Angehender UK-Goldproduzent-Börsenwert 9 Mio.GBP!
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UPDATED TECHNICAL REPORTS
London 26th August 2011; Ascot Mining PLC ("Ascot" or the "Company") has
received updated Technical Reports under National Instrument 43-101 Guidelines
covering the Chassoul, El Recio and Tres Hermanos properties in Costa Rica
(National Instrument 43-101 refers to Standards of Disclosure for Mineral
Projects as promulgated by Canadian Securities Regulators).
The Company provides a summary of the National Instrument 43-101 reports below:
Veritas Gold C.R. SA - The Chassoul Gold Project
The Chassoul mine is considered a property of considerable merit.
The property contains a series of historically identified gold veins that are
currently being explored and evaluated. The fully equipped 150 ton per day
on-site mill, which has been rebuilt and expanded, is being used to process
mined material, principally from the Cajeta vein, and more recently from the
Amarilla vein, together with material being generated from underground
exploration on the multiple Chassoul vein systems. The supply of this
underground exploration material from Chassoul is currently being supplemented
by gold-bearing vein material delivered by truck from the Tres Hermanos and El
Recio properties. The Chassoul plant thus serves as a pilot gold recovery
facility and also as an excellent bulk sampling and evaluation mechanism to
determine the levels of gold in the various types of material generated from
underground and surface exploration.
Ongoing underground exploration and testing of gold-bearing materials removed
will continually allow the reclassification of portions of the veins into a
resource category from the current exploration target status.
Chassoul hosts a total of nine identified gold veins, all in close proximity to
the mill. It is anticipated that ongoing mine underground exploration work will
identify the most appropriate location for a new exploration tunnel in the La
Negra and Amarilla veins.
This work will also better define the relationship between the Pochota and
Cajeta veins and, if it were to confirm that the Pochota vein is really the
continuation of the Cajeta vein offset by a horizontal fault, this would open
up a large new mineralized potential target.
An historical reserve of 112,000 tonnes grading 6.6 g/tonne gold was calculated
by Alan (2003,2006) to be present within the partly developed portions of the
three major veins, namely Cajeta, Negra, and Amarilla. This reserve is
historical in nature, and a qualified person has not done sufficient work to
classify the historical estimate as current mineral resources or mineral
reserves, and Ascot is not treating the historical estimate as current mineral
resources or mineral reserves.
Within this relatively unexplored area, potential exists for establishing a
resource, and an exploration target of an additional 200,000 to 300,000 tonnes
of material grading between 4-8 g/tonne is postulated for the Chassoul
property. This could potentially feed the expanded Chassoul mill for a number
of years.
Veritas Mining C.R. SA - Tres Hermanos, El Recio and Boston
The Tres Hermanos and El Recio concessions are estimated to have produced in
excess of 2,400,000 oz of gold since the discovery of gold in the region in the
late 1800's near the town of Las Juntas. The Tres Hermanos vein has been
historically mined over a strike length of 1.4 kilometres on 3 levels (120
metres vertically), while the El Recio vein was historically mined over a
strike length of 600 metres on 3 levels (95 metres vertically).
The resource potential for Tres Hermanos is untouched in the area below the
seventh level and the postulated geological exploration potential is projected
by the Company's geologists and expert independent consultants to be over 1
million oz of gold. This estimate of exploration potential is conceptual in
nature, and though not confirmed, is based on sound geological reasoning,
extrapolation of known historical reserves, mineralization, geological
structures and historical production.
During the 1970s and through to the 1990s, multiple phases of work by
multinational mining companies provided an extensive background of detailed,
state-of-the-art data, including detailed drilling and reserve calculations,
which is being utilized in the Company's current exploration and pilot
exploitation procedures.
The project focus is primarily on exploration and potential mining of the
untouched exploration target below the deepest level of the Tres Hermanos and
El Recio veins.
The previous work has outlined historical reserves. Potentially mineable target
zones that were not or could not be verified by these previous studies, or that
have not been established from current exploration, are categorized as
Exploration Potential Targets. However, much of the proposed exploration can be
classified as Brownfield (advanced stage) exploration and could almost qualify
as development work, as it is not only within a known mining district, but is
also to a large part within a known mine or mines within current property
holdings.
The current evolved status of the operations and exploration at the Tres
Hermanos and El Recio veins offers an excellent opportunity to combine
exploration and verification of historical vein gold reserves with continued
active production, by doing substantial drifting on the veins and open cutting
of outcropping veins.
When this is combined with testing of development rock in large quantities by
milling through the Chassoul mill, the Company will be able to determine
definitive grades for the exploration target and establish current reserves and
resources.
The exploration programme could create significant cash flow, with development
rock providing continuous feed to the Chassoul mill, thus enabling the
programme to be largely self-funding.
A recent review of the exploration plans in May and June 2011 yielded two
recommended budget phases for the updated National Instrument 43-101 report. An
initial Phase I budget of US$500,000.00 is to be followed by a Phase II budget
of US$4,000,000.00, for a total budget of US$4,500,000.00. It is anticipated
that this will not only establish a reserve of 25,000 ounces, but will also
provide an inferred resource of 60,000 ounces, and additionally provide an
exploration target for 460,000 ounces of gold in a "mine-ready" category.
The Boston Contract Supply Agreement
The Boston concession is owned by a syndicate of some 49 local miners. Veritas
Mining has a 10 year renewable agreement with the concession owners to accept
delivery of material produced based upon a formula of tonnage and gold grade.
This arrangement is commercially attractive to the Company. Four levels are
readily accessible for immediate production and mining is underway. The vein
system is narrow with corresponding high grades, with available records
indicating an average mining grade of up to 15 g/t, but with the potential for
bonanza type shoots.
Summary Exploration Potential and Historical Reserves
NAME ASCOT RESOURCE & GRADE TONNAGE RESOURCE EXPLORATION
INTEREST CATEGORY (OZ/T) (OZ)* POTENTIAL
(OZ)*
El Recio 100% Indicated ** 0.09 241,000 20,800
Veins (Near
surface)
El Recio 100% Exploration 0.22 566,000 124,600
Veins
(Underground)
Tres Hermanos 100% Exploration 0.50 1,400,000 700,000
Boston 3 years Contract 0.40 100,000 40,000
Concession projected
Free Miners 3 years Contract 0.50 250,000 125,000
projected
Chassoul 100% Inferred*** 0.21 112,000 23,500 20,000
Exploration 0.10 200,000
Summary Indicated 241,000 20,800 1,009,600
Resource**
112,000 23,500
Inferred
Resource*** 2,516,000
Exploration
Potential &
Contract
Supply
Source - S.A. Jackson & Associates
*"the Company is not treating the historical estímate as current mineral
resources or mineral reserves".
**Strathcona Mineral Services Limited (1990)Excerpted from Geological Mineral
Reserves.
***Alan, (2003, 2006)Excerpted from Reserve Tabulation Chassoul Property.
The Directors of the issuer accept responsibility for this announcement.
ENDS
For further information please contact:
Damien Daly:
Ascot Mining Plc
+44 (0) 7880 55 46 47
info@ascotmining.com
Heena Karani:
Rivington Street Corporate Finance
+44 (0) 207 562 3393
Heena.karani@rs-cf.com
Konkrete Zahlen fehlen immer noch, ABER die Mühle läuft und wird strategisch sehr klug eingesetzt:
"The Chassoul plant thus serves as a pilot gold recovery facility and also as an excellent bulk sampling and evaluation mechanism to determine the levels of gold in the various types of material generated from underground and surface exploration."
Enormer Vorteil dieser Strategie:
"The exploration programme could create significant cash flow, with development rock providing continuous feed to the Chassoul mill, thus enabling the programme to be largely self-funding."
Ich warte weiter auf konkrete Produktions- und (!) Verkaufszahlen. Kein Zweifel: Ascot hat locker Luft für einen Sprung von 200 bis 500 %, wenn die Produktion endlich rund läuft und man im Rahmen eines Explorationsprogramms eine signifikante Ressource nachweist.
Weiter abwarten.
ASCOT MINING PLC
ANNOUNCEMENT OF FUNDING FACILITY
London, 5th September 2011, Ascot Mining Plc (PLUS Markets: ASMP, XETRA®: AM3.DE, the "Company") wishes to announce details of a new funding facility.
The Company is pleased to announce that it has arranged a short term secured loan facility of US$3,500,000, less costs ("Facility"), provided by Texel Capital Limited (the "Lender"), to its wholly owned subsidiary, Veritas Gold CR S.A ("Veritas Gold"). The tenor of the Facility is approximately 12 months, and bears an interest rate of 8.25% per annum. During the term of the Facility, the Company will act as Guarantor, and its shareholdings in both Veritas Gold and the local concession holding company will be transferred to an escrow account with Banco Nacional de Costa Rica. The maximum secured liability under the Facility will be strictly limited to amounts outstanding from time to time.
The Facility provides the Company''s Group with an alternative and flexible source of funding. The proceeds will be allocated to substantially discharge existing gold forward purchase obligations, and will facilitate the Company''s planned comprehensive exploration programme. The facility will also assist with the funding costs associated with the listing of the Company''s shares, and for general working capital.
As part of the consideration for Texel Capital providing the funding, the Company has issued 1.2 million warrants priced at US$1.00 and with a final conversion date of 31st December 2012.
The Directors of the Issuer accept responsibility for this announcement.
--ENDS--
Enquiries:
Damien Daly:
Ascot Mining Plc
+44 (0) 7880 55 46 47
info@ascotmining.com
Heena Karani:
Rivington Street Corporate Finance
+44 (0) 207 562 3393
Heena.karani@rs-cf.com
wird eigentlich auch noch gold gefördert oder nur neue aktien ausgegeben?
Super Finanzierung!!!
Rechne mal aus, wieviel 1 USD in Euro ist und dann schau, wo der Aktienkurs steht ;-).
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Gute (Re-)Finanzierungsmöglichkeit für Ascot - es darf nur nix schief gehen, denn dann ist Veritas Gold futsch. Ich gehe allerdings davon aus, dass man in den kommenden 12 Monaten ENDLICH ordentlich produziert und sich dieses Szenario gar nicht mehr einstellen wird.
Fegefeuer
Denke, dass der Vorstand mit dem Geld kurzfristig auch was anfangen wird...m.E. hatte der CEO schon sämtliche Forward Sale Deals viel früher abgelöst...deswegen verstehe ich die Verwendung nicht wirklich...
Und es ermöglicht den Wechsel an die AIM!!! Das wiederum bedeutet auch baldiges Listing in Kanada! Und viele neue Investoren!!! Steigender Kurs und dann kann Ascot - entweder aus dem Cashflow oder zu höheren Kursen oder über Geld aus ausgeübten Optionsscheine diese Kreditlinie auch wieder schnell auf Null setzen
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London, 8th September 2011, Ascot Mining Plc (PLUS Markets: ASMP, XETRA®: AM3.DE, the "Company") wishes to provide this update to its previously announced legal dispute with regard to its La Toyota gold project in Costa Rica, and also to address certain other related matters....
http://www.finanznachrichten.de/...ion-and-additional-matters-008.htm
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COMPAÑIA MINERA DEL GUANACASTE S.A. AND
EL RECIO S.A.
London, 9th September 2011, Ascot Mining Plc (PLUS Markets: ASMP, Xetra®:
AM3.DE, the "Company") announces that its wholly owned subsidiary, Veritas
Mining CR S.A. ("Veritas Mining"), has acquired 100% of the shares of COMPAÑIA
MINERA DEL GUANACASTE S.A., which owns the rights and title to Concession
Number 96 (known as Tres Hermanos), and 100% of the shares of EL RECIO S.A.,
which owns the rights and title to Concession Number 878 (known as El Recio).
Veritas Mining has, over the past several months, undertaken considerable due
diligence on both concessions, including studying all historical and geological
information, taking bulk samples, and undertaking certain metallurgical
analyses, in order to determine and confirm the viability of both projects.
These extensive studies have resulted in Veritas Mining completing these
acquisitions.
As consideration for the transfer of 100% of the shares of both companies, the
vendors will receive a 25% Net Profit Interest, up to a maximum of US$1,785,000
per concession, payable over a period of up to five years. Should the full
purchase price not be settled within five years, the purchase price of each
concession will rise to US$2 million. Additionally, Veritas Mining will pay a
2% Net Smelter Royalty (NSR) from production, although it has the option to
purchase the NSR for a cash consideration of US$750,000 per concession. Veritas
Mining also has the right to accelerate the payments for one or both
concessions without notice, bonus or penalty. As part of this transaction,
Veritas Mining has also agreed to issue 361,538 shares (723,076 shares in
total) in settlement of US$235,000 (US$470,000 for both) outstanding
liabilities due under the terms of its earlier agreement.
Following completion, the Board of COMPAÑIA MINERA DEL GUANACASTE S.A. and El
RECIO S.A. now consists of:
David B. Jackson, President;
Giovanni Sosto, Secretary, and
Jeffrey Benavides, Treasurer
David Jackson, CEO of Ascot states: "Having experienced numerous delays over
the past months, the Company has now brought the Chassoul gold mine into
limited but steady production, and we are confident Chassoul is poised for
stabilized and increasing production in the future. We are now proceeding with
the exploration and development of Chassoul, Tres Hermanos and El Recio to
further expand our gold assets in Costa Rica."
Editor's Notes:
Within the updated Technical Reports under the 43-101 report, which was
received by Ascot in August 2011, Veritas Mining's consulting geologist, Dr.
Stewart Jackson Phd, P.Geol stated:
"The current evolved status of the operations and exploration at the Veritas
Mining properties offers an excellent opportunity to combine verification of
vein gold reserves with continued production, by doing substantial drifting on
the veins and open cutting of outcropping veins, combined with testing of
development muck in large quantities to determine definitive grades for the
target reserves. This is a preferred expenditure of dollars and efforts
versus detailed extensive drilling to achieve the same confidence level in the
new reserves. Drilling does not render such reserves ready for immediate and
continued production, as does the combined approach.
The recommended programmes have a two-fold purpose in that they can provide
immediate mill feed for the Chassoul mill from both the surface testing
material at the Ignacio Vein and from cleaning of ´´gob´´ from Level 7
during the preparation of Level 7 of Tres Hermanos for drilling of a
preliminary reserve block - Miguel´s Block- lying inside the portal and below
that level.
Drilling of Miguel´s Block is anticipated to drill prove up a reserve of 25,000
oz of gold.
Continued immediate mill feed will be available from the Ignacio Vein within
the El Recio area while it is being developed, from both a surface sampling
program and from a production drift at the base of the potential reserve.
Drifting on the vein, and raising in the vein will not only provide mill feed
throughout this process but will serve to confirm the grades with confidence
from the recovery and direct measurement of gold versus extrapolation of grades
from small volume samples that are inherently subject to nugget effect
variations.
This work on the Ignacio vein is expected to prove a reserve of 5,000 ounces of
gold, and indicate a resource of 20,000 ounces for a combined 25,000-ounce
target.
Phase II drifting on Level 8 of the Tres Hermanos vein is anticipated to be
conducted within the 2 meter-wide vein structure confirming both the width and
grade of this structure, and again providing continuous mill feed for the
Chassoul mill. This drift extending some 2.5 km to the vicinity of the
Northern Shaft (Pozo General) is anticipated to confirm 250,000 ounces of gold
within 750,000 tonnes grading 10g/t, extending upward to Level 7 from Level 8.
An additional allocation of US$100,000 is proposed to confirm grade and size of
known potential production resources within the El Recio Vein system, to ensure
continued development muck availability in the event of unforeseen delays of
any sort on the Ignacio exploration and development unit.
This entire program will create significant cash flow, fostered by the presence
of the Chassoul mill and gold recovery system. Judicious scheduling of
investment dollars, and stockpiling of development rock to provide continuous
feed to the Chassoul mill, may permit the project to essentially self-fund.
With the reserves created by this proposed investment, Veritas Mining will have
achieved the foundation needed for long-term operation throughout the
District".
The Directors of the issuer accept responsibility for this announcement.
--ENDS--
Enquiries:
Damien Daly:
+44 (0) 7880 55 46 47
Ascot Mining Plc
info@acotmining.com
http://www.investegate.co.uk/Article.aspx?id=20110909070000P8B65
http://www.beprofiteer.com/nlhtm/show.php?id=115
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ASCOT MINING PLC - GBP 6,000,000 Standby Equity Distribution Agreement
ASCOT MINING PLC
£6,000,000 (US$9,300,000) STANDBY EQUITY DISTRIBUTION AGREEMENT
London, 3rd October 2011, Ascot Mining Plc (PLUS Markets: ASMP, XETRA®: AM3.DE, "Ascot", the "Company")
Ascot is pleased to announce that it has entered into a Standby Equity Distribution Agreement ("SEDA") for up to £6 million (US$9.3 million) with YA Global Master SPV Limited ("YA Global"), which is advised by Yorkville Advisers, LLC, an investment group headquartered in New York and active across North America, Europe, and the Asia Pacific Region.
Under the SEDA, YA Global has agreed to subscribe in tranches for up to £6 (US$9.3) million of the Company''s Ordinary Shares over a period of 36 months. Subscriptions will be at a price closely related to the market price at the time of subscription and will take place at timings and intervals and in sizes determined solely at the discretion of Ascot. The maximum amount that may be requested at any time is 200% of the average volume weighted daily trading value of the Company''s shares during the five trading days prior to the draw down request. The shares issued by the Company will be priced at a 5% discount to the lowest volume weighted average price during the ten trading day pricing period of each draw down (following the draw down request).
The Board of Ascot believe the SEDA offers a cost competitive means of raising substantial funds compared with alternative equity financing opportunities that are currently available to companies similar in size to Ascot, and that the SEDA strengthens and broadens the Company''s overall medium term financial position and therefore underpins the Company''s growth and development plans.
The proceeds will be used to support the Company''s gold operations in Costa Rica; to accelerate the Phase 1 exploration programme outlined in the recently updated 43-101 technical reports; to assist with the costs associated with the applications for listing on AIM and the Toronto Stock Exchange; and for general working capital purposes.
The arranging fee in connection with the SEDA will be settled through a combination of cash and with proceeds obtained by the issue of Ordinary Shares under the SEDA.
David Jackson, CEO of Ascot, stated "The Board is delighted to announce this significant £6 (US$9.3) million standby arrangement. The Company will greatly benefit from accessing this flexible and cost competitive medium term source of equity funding as it moves into the next stage of its planned production and expansion strategy".
The Directors of the Issuer accept responsibility for this announcement.
--ENDS--
Enquiries:
Damien Daly:
Ascot Mining Plc
+44 (0) 7880 55 46 47
info@ascotmining.com
Heena Karani:
Rivington Street Corporate Finance
+44 (0) 207 562 3393
Heena.karani@rs-cf.com
das einzige was ascot anscheinend kann...neue aktien ausgeben.....!!
...versteht die news eben nicht. Der Clou liegt doch hier:
"Under the SEDA, YA Global has agreed to subscribe in tranches for up to £6 (US$9.3) million of the Company''s Ordinary Shares over a period of 36 months. Subscriptions will be at a price closely related to the market price at the time of subscription and will take place at timings and intervals and in sizes determined solely at the discretion of Ascot."
Zeigt mir mal einen Explorer, der in diesen Zeiten so einen Deal macht ;-)
denke aber, dass der CEO nur eine fall back Lösung für den Fall der Fälle haben wollte ODER
er ist ein schlauer Fuchs und rechnet morgen mit einer sehr positiven Entscheidung in Sachen La Toyota - das würde hohen Umsatz und steigende Kurse bedeuten...
oder er will sich für eine M+A Transaktion stärken...
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