SP Angel analyst today said: “Ascent Resources (AST LN – 1.25p) Outlook Improving: With these results the Company’s narrative is more important than the underlying numbers, although the reduction in costs while the Company is in this phase is welcome. Given that an alternative route to valorisation of the asset is now close, we believe that the pressure that has been on the shares is now likely to start to reverse, and although there is likely to be a funding round at some point in the future, we are confident that there will be some element of credit extended to cover the project’s cost, and so will not be as large as would be expected, and hence conducted from a higher level. We believe investors should be pleased with the progress that the Management team have made to date, and the direction that the Company is now moving in to develop the asset base.”
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Expected performance over 12 months
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