Ascot Resources (TSE:AOT) has released an update.
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Ascot Resources Ltd. has announced a temporary suspension of operations at its Premier Gold Mine to concentrate on mine development, with the Big Missouri and PNL mines requiring additional time to provide sufficient ore feed. Despite a successful gold yield in recent months, the company is facing delays and needs further development to ensure profitable operations. Ascot is currently seeking funding for these development efforts and has sufficient cash to manage the suspension and maintain environmental compliance.
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