Ascot Resources director Coille Van Alphen steps down

VANCOUVER - Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF), a Canadian junior exploration and development company with a market capitalization of $128 million, announced today that Coille Van Alphen has resigned from its Board of Directors. The company, which is focused on restarting the historically productive Premier Gold Mine in British Columbia’s Golden Triangle, did not provide a reason for Van Alphen’s departure. According to InvestingPro data, the company operates with a moderate level of debt and maintains a debt-to-equity ratio of 0.19.

The Premier Gold Mine, situated on Nisga’a Nation Treaty Lands, was once a significant operation and Ascot is working towards its development while continuing to explore the area for additional high-grade underground resources. Ascot’s commitment to responsible development in collaboration with the Nisga’a Nation is part of a Benefits Agreement, ensuring mutual advantages from the mine’s potential reactivation. The company has maintained impressive gross profit margins of 22%, though InvestingPro analysis indicates an overall weak financial health score.

James A. Currie, CEO and COO of Ascot, acknowledged Van Alphen’s contribution to the company on behalf of the Board of Directors but did not comment further on the resignation or any plans for a successor.

Ascot’s shares are publicly traded on the Toronto Stock Exchange with the ticker symbol AOT and on the OTCQX market as AOTVF. The stock has experienced significant pressure, declining 35% over the past six months, though InvestingPro analysis suggests the shares are currently undervalued. The company’s future endeavors include not only the Premier project but also exploring its property portfolio for more high-grade resources, with analysts expecting profitability in the coming year.

The TSX has not commented on this announcement, maintaining its policy of not endorsing press release statements. This development comes as the company continues to navigate the challenges and opportunities of mineral exploration and development in a competitive industry. Investors should note that Ascot’s next earnings report is scheduled for May 19, 2025, which could provide crucial updates on the company’s development progress.

This news is based on a press release statement and provides the latest update on Ascot Resources Ltd.’s corporate governance.

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