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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: DIAMOND JIM who wrote (6165)9/9/1998 1:16:00 PM
From: Pete Mimmack  Read Replies (2) of 7966
 
DMS news from 2nd Qtr report:

"The design and the construction of the DMS plant to be located in the field is underway. The timetable leading to the commissioning of the plant has been extended to reflect the longer lead time required for the delivery of certain key components, and this factor coupled with the inherent difficulties of winter construction may lead to deferral of construction and commissioning until the spring and early summer of next year.

A search continues for an appropriate contract facility for earlier treatment of the sample of 450 tonnes taken last winter from K-14."

And some details on what Frank has told us about the expansion in N Vancouver:

"The lab expansion includes a larger heavy mineral observing facility, a larger area dedicated to microdiamond analysis, and a secured diamond x-ray sorting area. The latter is a particularly important addition which will allow for more efficient and timely sorting of diamonds derived from DMS analysis of larger kimberlite samples."

"Working capital at June 30th was $13.5 million."

"... new website at www.ashton.ca which we plan to launch in October."

"... further evaluation of K-91 has been deferred for the time being in favour of a concentration of effort on the identification and examination of new kimberlites."

Just got that in the mail yesterday. Forgive me if this is a duplicate posting, as I'm surprised to be scooping the northerners among us, but I don't recall seeing any of this. Sounds like things are moving along in their own slow, quiet way. Not nearly as exciting as last year.

Pete
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