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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: Martin Wormser who wrote (7824)1/17/2002 7:49:22 PM
From: Valuepro  Read Replies (1) of 7966
 
Martin, I just posted to you on SH, but might have misunderstood what you were asking.

Otherwise, I've looked at the history of the last new mine to come on line South Africa before the DMM discovery in Canada. In particular, I looked at the stock price action for the explorer who ended with a small piece of the property. From other reading I understand the PPS cycle is similar in other situations.

1) PPS advances with discovery and feasibility; 2) The price continues to go up right to the point of production;
3) The price falls a goodly amount immediately thereafter, and 4) PPS very slow builds again before leveling off several months or years later, but never getting too much past the highs from the pre production stage (assuming no additions to reserves). Stage 4, however, includes dividends and appeals to a different market altogether.
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