BIG I DEVELOPMENTS (BID.V)-worth a shot @ .15 cents??!! Message Board

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Gold/Mining/Energy : BIG I DEVELOPMENTS (BID.V)-worth a shot @ .15 cents??!!

NTR 53.63

-1.7%

3:59 PM EST

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To: Blake who wrote (5)	4/28/1997 4:16:00 PM
From: larry	of 40

Hello Blake, Excellent volume today for BID and up .05 cents! With the excitement that ACA has generated this could be the boost BID needs to get noticed!! I've got a clipping from the Financial Post that may be of some interest to you or anybody else! Larry Saturday, April 26, 1997 Ashton upbeat on early diamond results in Alberta By KEITH DAMSELL Vancouver Bureau The Financial Post Preliminary diamond drilling results from Ashton Mining of Canada Inc.'s Buffalo Hills property in northern Alberta are "very encouraging," president and chief executive John Auston said Friday. The results confirm there are diamonds on the sprawling 28-million acre property controlled by North Vancouver-based Ashton and its partners, Pure Gold Resources Inc. and Alberta Energy Co. Ltd. Two of three kimberlite pipes drilled contained low counts of tiny micro-diamonds. But results from the third pipe revealed significant numbers of larger macro-diamonds. "We've shown now that some of these pipes have tapped the right place," said Auston. Investors responded favorably to the news. Ashton shares (ACA/TSE) climbed 13› to $2.41 on Friday. The increase came on the heels of a 58› gain Thursday. "This is Ashton turning the lights on in Alberta," said John Kaiser, publisher of mining journal Kaiser's Bottom Fishing Report. "I think its the beginning of a major boom." Under a complicated ownership formula, Ashton has the right to earn a 42.5% interest in the most promising tract of the Buffalo Hills property. The company is 62% owned by Ashton Mining Ltd. of Australia. Pure Gold (PUG/TSE) of Vancouver, which has a right to earn a 15% interest in the exploratory site, eased 1.5› to 31.5›. The shares of Alberta Energy (AEC/TSE), the controller of the remaining interest in Buffalo Hills, were off 5› to $30.65. More drilling and study is required over the next 24 months to determine the viability of a commercial operation. Eight more kimberlite pipes have been drilled and testing results are expected in May and June. But Friday's news was enough to prompt analyst Kaiser to predict the potential diamond play will help kick-start Canada's ailing mining industry.

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