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Gold/Mining/Energy : Canabrava Diamond
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To: grampa who wrote (2143)8/17/2000 11:13:55 AM
From: Diamond Daze  Read Replies (1) of 2402
 
Ashton Mining of Canada Inc ACA
Shares issued 29,249,415 Aug 16 close $0.75
Thu 17 Aug 2000 In the News
See (U:DBRSY) In the News
The National Post reports in its Thursday edition that De Beers, master of
two-thirds of the world's diamond trade, will keep looking for more
opportunities in the diamond business as it continues to move away from its
practice of buying gems on the open market and instead markets the stones
produced in its own mines. The Post's Drew Hasselback writes that De Beers
has a bid to buy Vancouver-based Winspear Diamonds, which has an
exploration property in the Northwest Territories, for $305-million. It has
also launched an unsolicited bid for Ashton Mining, which owns 40 per cent
of the Argyle mine, the world's largest diamond mine. De Beers chairman
Nicky Oppenheimer told Bloomberg News that De Beers sees both as good
value. "As far as Winspear is concerned, it is a smallish potential deposit
in Canada and a green fields operation. Ashton is obviously an established
mine. Their major shareholder, the Malaysian Mining Corp., is obviously
looking to get out and this prompted us to conditionally purchase 19.9 per
cent of Ashton and offer to buy the rest."
(c) Copyright 2000 Canjex Publishing Ltd. stockwatch.com
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