08:16 AM EDT, 05/25/2020 (MT Newswires) -- Ascot Resources Ltd. (AOT.TO) may add to its 3.5% gain after saying overnight Friday that it has filed a NI 43-101-compliant technical report on the feasibility study for the Premier and Red Mountain gold project in British Columbia.

The study generated a posttax net present value, discounted at 5%, of $341 million and a 51% internal rate of return based on a gold price of US$1,400 per ounce, silver price of $17/oz and an exchange rate of $0.76 per US$1.

Ascot said the posttax NPV and IRR increases to over $600 million and nearly 80%, respectively, based on currently strong gold prices. The company said it is focused on advancing the permitting process and reviewing funding proposals for the project.

Price: 0.9000, Change: +0.0300, Percent Change: +3.45