Ascot Mining PLC Announces Financing Commitment
(firmenpresse) - Ascot Announces Financing Commitment
London 1 July 2010: Ascot Mining Plc (“Ascot” or the “Company”) (Plus Markets ASMP & Xetra® AM3.DE) is pleased to announce that it has received an offer of financing of US$4,500,000.
The funds will be used to complete the development of the Company’s three gold mines in Costa Rica, working capital and for participating in other projects related to its previously stated strategy of rehabilitating commercially attractive properties. The Company continues its talks with Mineral Hill Industries and will report further in due course.
The offer of funding has been provided by the leading private equity group Equita Global who specialise in providing funding for development, infrastructure and renewable energy projects. To quote from the Group’s mission statement “We only work on projects we truly believe are commercially viable, so that we may continue to strengthen our name in the industry by aligning ourselves with excellent and strategic partners”.
Their Managing Director Oliver Hickey commented that ”with Ascot Mining we believe we have not only secured an excellent partner, but we see this as not just as an investment from passive partners but a gesture from our company to secure a longstanding and mutually beneficial arrangement for all parties moving forward. Equita Global has long been a believer in the profitability of the Costa Rica region and further to this we were impressed with the strategic focus on three sites identified by Ascot Mining. In addition we have been made aware of the company’s future expansion plans and we fully intend to support them to the best of our ability.”
David Jackson, the CEO of Ascot stated ”This funding is attractive to the Company as it will allow Ascot to complete its expansion of the Chassoul mine and mill which will stabilize and increase production of gold. It will also enable the Company to progress the development of the Tres Hermanos, El Recio and other development projects as previously announced. Ascot has achieved a great deal from inception in late 2007 and subsequent listing in April 2008 to become a gold mining company with permitted operations and production in Costa Rica. The Company is now poised to implement more meaningful production of gold and we look to the future with confidence”.
The Directors take responsibility for this announcement.
Enquiries: Damien Daly + 44 (0) 7880 55 46 47
Email: info(at)ascotmining.com
Website: www.ascotmining.com
Leseranfragen:
Ascot Mining
Datum: 01.07.2010 - 08:27 Uhr
Sprache: Deutsch
News-ID 23294
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Town:
Wien
Kategorie:
Business News
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