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The release of a trading statement on the 23rd of August confirmed that PLUS listed gold company Ascot Mining, operating in Costa Rica, is nearing completion of the upgrade to its Chassoul gold mine and mill – which should result in capacity shortly tripling to 150 tonnes of ore per day (tpd).  This upgrade is on only the first of three mines Ascot will be developing in the next few months, with the Tres Hermanos and El Recio projects expected to propel the company towards financial independence and material cash generation. Chassoul’s mill expansion, underground stope preparation and further exploration work are progressing well and will go a long way to mitigating the setback suffered as a result of the unforeseen issues experienced with its proposed JV partner at the La Toyota project. That has hit the share price unfairly and we do not see the good news as now being in any way discounted. Our stance, at 15p, is buy with a 62p target.