AOTVF - Ascot Resources: Target Price Raised On Recent Construction Finance Package
- Ascot Resources announced a US$105 million Construction Finance Package last week for its Premier Gold Project in British Columbia.
- This financing was larger than I expected which will lead to much less share dilution and has de-risked the project with a much more clear path to production by H2 2022.
- Despite being much more de-risked than its peers given that it has access to capital to fund the majority of its upfront capex, Ascot trades at less than US$90.00/oz.
- Therefore, I continue to see further upside ahead, and I would view any pullbacks below US$0.79 as low-risk buying opportunities.
For further details see:
Ascot Resources: Target Price Raised On Recent Construction Finance Package