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Ascot Mining nears completion of Chassoul gold mine expansion to triple capacity

Monday, August 23, 2010

Ascot Mining is progressing towards the completion of an expansion programme at its Chassoul gold mine in Costa Rica to triple its capacity and mitigate the impact of the suspension of mill and mine development at the La Toyota concession.

Issues at the La Toyota project have forced Ascot Mining to take legal action against the proposed partner.

This situation led to a shortage of working capital and revenues due to the interrupted production schedule. However, the company noted that it has multiple concessions and was not “hostage to losing business model by the suspension of La Toyota.”

Original source: Proactive Investors