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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: Martin Wormser who wrote (7659)8/14/2000 2:03:09 PM
From: Famularo   of 7966
 
Today's microdiamond results from K252 on the Buffalo Hills project update from Ashton continued to receive not more than a few yawns. A few years ago, news like today would create high volume and a spike of at least 30-40%. I can understand the frustration investors are facing but let me assure you if Ashton ever announces very strong upcoming macro counts, we will see the stock go. Buffalo Hills offers an economic framework that will allow much lower value pipes to be economic in Buffalo Hills than NWT.
The takeover bid of Ashton Australia has not yet spiked the interest of investors into Ashton Canada. Debeers takeover of Winspear and now the interest of Ashton leads me to believes Debeers knows they will can hit the jackpot with ACA. Debeers has its own evaluation system which it would love to apply to Ashton Canada Buffalo Hills data. If it ever gets 68% control, Debeers will revisit Buffalo Hills.

In addition to RIO being interested in Ashton, I had mentioned AEC. I'll say this was just a long shot possibility and it may not care to bid on Ashton Australia. However, one other candidate a birdie mentioned to me is BHP..

Why BHP? BHP is an Australian mining giant which has good reason to take control of Ashton Austrlia. As well, BHP own 51% of the Ekati mine and may have interest in Ashton's canadian properties.

In my opinion, RIO and BHP are not prepared to throw in the towel and for the cheap price of $522 million, it would not surprise me if we will see another takeover bid by at least one of these big companies.

Be patient and hopefully good things can happen.
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