Ascot Secures Further Investment From Resource Capital Funds – 17 December 2013

Ascot ResourcesUncategorised

KEY HIGHLIGHTS

  • Carbones de Titiribi Joint Venture (Ascot: 90%) secures neighbouring concessions comprising the areas known as Arrayanal, Floresta, Arbolitos and Rio Amaga.
  • Consideration of US$50,000 payable by Ascot for acquisition of the concessions.
  • Resultant c250% increase in existing land holding and has the potential to significantly increase mineralisation of Titiribi Coal Project.
  •  Ascot has also successfully renegotiated key terms of the Titiribi Joint Venture Agreement.
  • Revised terms materially more favourable and reflect Ascot’s intentions to ensure Agreement conducive to it achieving production objectives once final studies are completed and approvals and funding are in place.

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Titiribi Joint Venture To Acquire Neighbouring Concessions – 17 December 2013