Ascot Resources Limited (“Ascot”) is an ASX listed coal explorer and developer. It's major asset is its 90% JV interest in the Titiribi Coal Project located in the Department of Antioquia, Colombia. The region is known for its high quality Thermal Coal. With the Project site being located only 70km from State Capital Medellin, it is close to existing utilities and infrastructure. Following completion of a drilling Program and Feasibility Study in 2013 and should the Project prove economic, it is anticipated that operations potentially could commence in 2014, exporting coal primarily into the European coal market. It is Ascots intention to grow the Colombian business via asset acquisition and it will continually assess opportunities within Colombia.
Ascot also has two minor Projects in Australia. The McPhees Gold Project, Western Australia, which has an extensive history of historical exploration and mining. Ascot is currently reviewing the historical technical data pertaining to the project and developing a cost effective exploration strategy. The Quartz Hill Project, Northern Territory, is an early stage multi commodity exploration project consisting of two granted exploration licences and three exploration licence applications. The three exploration licence applications have been determined through a comprehensive project evaluation to be highly prospective for Uranium and Rare Earth Mineralisation.