Ascot Mining - Clearly focused on boosting gold production

 

 

Ascot Mining	Update 3rd July 2012
Clearly focused on boosting gold production	Speculative Buy     Target price 29p     Key data Price 7.5p 52 week high/low 40.5p/7.50p Primary exchange PLUS EPIC ASMP Shares in issue 68.56m Market Cap £5.1m Sector Mining       Valuation   EV/EBITDA n/a P/E n/a NAV / Share 15.2p TNAV / Share (6.4p)     Previous note Committed to listing on AIM and TSX as soon as possible     Future event Gold production update       Affiliations: Yes     Important: All disclaimer information can be found on the last page of the document
Ascot Mining, the junior gold mining and exploration company operating in Costa Rica, has released interim results for the six months to 31st March 2012. These cover a period where substantial progress had been made in the development of Ascot's 100%-owned Chassoul Gold mine. The company made a net loss before taxation of £543,851 on gold sales of £346,599 for the period, but the full-year numbers look as though they could be a lot better. We rate the shares as a speculative buy. Click to download Full Report * The author of this report, Dr. Michael Green, owns shares in Ascot Mining
Table: Financial overview Year to 30th September 2009A 2010A 2011A 2012E Revenue (£000) 0 30 83 2,500 PBT* (£000) (2,009) (1,708) (2,077) 600 EPS* (p) (5.99) (4.5) (3.9) 1.0 Dividend (p) 0 0 0 0 Source: GECR and company

 

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