Ascot buys Seacan Labs in BC
Toronto-listed Ascot Resources has completed a transaction with Seacan Labs to acquire its full-service assay laboratory facility in Stewart, British Columbia.
The lab, located 25 km from the company’s Premier gold project, will be used to perform the testing required by Ascot for mineral exploration, mining operations and environmental monitoring.
“The acquisition of this fully functioning assay laboratory facility in Stewart is a key component of preparing Ascot for production at the Premier gold mine. This facility will benefit the project’s full mining life cycle through exploration, production, and environmental monitoring,” said president and CEO Derek White.
Seacan purchased the assay lab and installed it at the World Port facility in Stewart, in early 2022. Ascot had entered into a service agreement with Seacan with respect to the company’s testing needs for the Premier project, and a portion of Ascot’s 2022 exploration drill assays and environmental testing was completed by Seacan. However, in order to further de-risk the project and minimise counterparty reliance, Ascot decided to purchase the lab outright.
The company is now in the process of planning for the staffing and operation of the assay lab in advance of targeted production start in the first quarter of 2024.
Total consideration for the transaction is C$3.55-million, consisting of C$500 000 in cash already paid at closing and 5 692 972 Ascot common shares.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation