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Gold/Mining/Energy : Canadian Diamond Play Cafi

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To: Famularo who wrote (5)7/9/2002 4:21:13 PM
From: Famularo   of 16212
 
Canaccord Morning Coffee

Ashton Mining of Canada (ACA : TSX : $2.70)
Net Change: 0.30, % Change: 12.50%, Volume: 141,500

A breakout – nope, not quite! In order for this diamond explorer to
register a technical breakout, our charts suggest that the $3.10 level
has to be surpassed, as this level has been the ceiling on this
diamond explorer since early February. Ashton’s next big news event
could be the mini-bulk sample results from Artemisia in the Coronation
Diamond District, due by the end of July. With the $1.40 warrants
having just been exercised, Ashton has about $16.5M or $0.30/share in
working capital by our latest estimates. Exploration is focused in the
Coronation and Otish camps in Nunavut and Quebec, respectively.
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