Ascot Resource's mine to employ up to 250 people, targets full production by July
An historic gold mine that has operated off and on in the Stewart area of British Columbia for more than a century is once again back in operation.
Ascot’s feasibility study projected a net present value of $516 million and internal rate of return of 62 per cent based on gold prices being at US$1,400 per ounce and silver at US$17 per ounce. The original Premier gold mine began operating more than a century ago, in 1918, and continued to operate off and on for decades. It stopped operating more than two decades ago.
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