This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

Ascot Resources Ltd. is facing a $22.3-million lawsuit in the Supreme Court of British Columbia from the contractor that upgraded the tailings pond at the Premier gold mine. The contractor, Nuna Logistics Ltd., claims that it had to perform work far in excess of that originally specified, moving hundreds of thousands of cubic metres of material that was not part of the contract. Nuna has since placed a lien over the mine in the amount that it says is owing.

The allegations are contained in a notice of claim that Nuna filed at the Vancouver courthouse on April 2, 2025. The case arises from the construction of the tailings pond at Premier, a recently completed mine near the B.C. town of Stewart. Nuna says that it was awarded a contract to upgrade the pond on March 29, 2023.

The project, as described in the suit, went awry from the start. Ascot was to dewater the construction area by May 1, 2023, but was never able to do so, the suit claims. Initially, Ascot said that there would be a two-month delay, but it then only partially dewatered the area, according to Nuna.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS