NIA's #1 stock suggestion for 2020 Ascot Resources (TSX: AOT) or AOTVF in the U.S. has been discovering unbelievably HUGE gold grades at its Premier Gold Mine as the company works towards announcing a resource update near year-end 2019 and a feasibility study in 1Q 2020!
AOT has just received the results for 19 drill holes at the Prew zone of the Premier Gold Mine. AOT's drill hole P19-2153 intercepted 37.95 g/t gold over 5.03m for 190.89 grammeters of gold! AOT's drill hole P19-2156 intercepted 8.14 g/t gold over 13.03m for 106.06 grammeters of gold! AOT's drill hole P19-2151 intercepted 8.39 g/t gold over 8.75m for 73.41 grammeters of gold!
AOT's upcoming resource update will likely upgrade a large portion of the Premier Gold Mine's inferred gold resource to the measured & indicated category. This will make it eligible to be upgraded to a proven & probable reserve when AOT releases its feasibility study in 1Q 2020!
NIA expects AOT's 1Q 2020 Premier Gold Mine feasibility study to show an after tax net present value that is significantly higher than the initial capital expenditures required to bring it back into production. Just the underground workings at the Premier Gold Mine alone would cost more to reproduce than AOT's current market cap! Once you factor in the existing mill, tailings facility, water treatment plant, roads, power, and access to a nearby skilled workforce... it wouldn't surprise us if AOT's feasibility study shows initial capital expenditures that are much lower than any other high grade underground gold mine of this size!
AOT has a total resource of 2,908,300 oz of contained gold. At its current price of $0.57 per share, AOT's market cap is only USD$99.2 million or USD$34.11 per oz! This valuation is insanely low considering AOT's average gold grade of 7.29 g/t ranks it among the Top 15 highest grade gold projects worldwide!
Currently, roughly half of AOT's resource is measured & indicated and the other half inferred. Imagine what will happen to AOT's market cap in the upcoming months if a large portion of its 2,908,300 oz gold resource becomes a proven and probable reserve! AOT closed yesterday above its key breakout point!
NIA's President has purchased 150,000 shares of AOT in the open market. Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. Never make investment decisions based on anything NIA says. This message is meant for informational and educational purposes only and does not provide investment advice.