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 Fri Dec 11, 1998
Report Nov-Dec 1998: Ascot Resources Ltd - 1999 Bottom-Fish 100
    Publisher: Kaiser Research Online
    Author: Copyright 1998 John A Kaiser

 Report Nov-Dec 1998: Ascot Resources Ltd - 1999 Bottom-Fish 100

Ascot Resources Ltd (AOT-V)

Priority: Low

Tel: (604) 684-8950

Issued: 20,440,506
Diluted: 25,290,506

Adj Working Capital: $500,000
Overhead Burn: $18,724/mth
Cash Breakup: $0.02/sh

Insider Stake: 20%
People: John Toffan/Ken Carter

Life Cycle Stage: Late

Story: Sullivan Two Hunt

TROCL Risk: 1+1+0+1+0 = 3

99 Bottom-Fish Range: $0.20-$0.29

Ascot is a late life cycle stock with a 24.5% net interest in the Victoria Island diamond play under option to Monopros, and a Hunt for Sullivan Two in 1999 that will either produce a discovery hole, or turn the stock into a rollback candidate. Ascot plans to drill a deep hole in May on the Smoker property in southeastern British Columbia. John Toffan and his geologist, Ken Carter, eschew promotion, but Ascot has plenty of powerful shareholders who would crank the market if Smoker produced a sniff of a zinc-lead-silver deposit resembling the world class Sullivan deposit. The sleeper asset is Victoria Island, which may blossom if Monopros mounts an aggressive drill program in 1999. More details on the diamond content of the Snowy Owl pipe could surprise the market.


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