AOTVF - Ascot Resources: Further Weakness Should Provide A Buying Opportunity
- Ascot Resources was one of the best-performing gold stocks in Q4, with a 31% return vs. a negative return for the Gold Juniors Index.
- This outperformance was likely due to the company de-risking its Premier Gold Project in British Columbia, with a Construction Finance Package announced just before Christmas.
- However, the stock has slid back over the past few weeks given the despondency in the sector, pushing the stock down closer to its low-risk buy point.
- Given Ascot's robust economics, Tier-1 jurisdiction, and clear path to production with financing in place, I would expect the stock to find strong support at US$0.78 if this correction continues.
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Ascot Resources: Further Weakness Should Provide A Buying Opportunity