Mining Stock Daily A Path Towards a Restart of Ascot's Premier Gold Mine with Rob McLeod
Jan 15, 2026
Rob McLeod, CEO of Ascot Resources and a mining executive with deep roots in Stewart, BC, shares the inspiring revival journey of the Premier Gold Mine. He discusses his personal ties to the mine and the vital restructuring efforts that helped avoid bankruptcy, including critical partnerships. McLeod reveals lessons learned from past management's mistakes and outlines future strategies, including upcoming drilling and feasibility studies. Tune in for insights on the promising potential of Red Mountain and local mining history.
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Common Causes Of Mine Failures
- Failed developments often share common mistakes like overly optimistic plans and insufficient geological definition.
- Ascot's issues were underdevelopment underground, inadequate drilling, and a mill too large for feed capacity.
Roots And Early Career At Premier
- Rob McLeod grew up in Stewart, BC and multiple family members worked at Premier, giving him deep local and geological knowledge.
- He started his mining career at the Premier mill and later led IDM Mining, which Ascot acquired.
Prevent Bankruptcy To Protect Permits
- Avoid bankruptcy by negotiating with secured creditors and settling large contractor payables to preserve project permitting.
- Use targeted financing (rights offering) to clean the balance sheet and maintain regulatory timelines.