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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: cann11 who wrote (4136)2/28/1998 3:16:00 AM
From: Famularo  Read Replies (2) of 7966
 
>>> Frank what do you mean !! If lucero finds diamonds , why wouldnt it shoot up to 5$ !! What about if they find more than ashton!!<<<

There is many steps to exploring diamonds.

1. Stake Land.
2. Identify targets/anomolies.
3. Find kimberlites.. (more than one).
4. Confirm they are diamondifirous(more than one)
5. Micro/Macro Analysis
6. Succcessful mini bulk sampling of 100t.
7. 500t sampling go ahead.
8. 500t success

Ashton has successfully reached step 7, in 15 months. The more advanced junioers have successfully completed step 2. If Lucero can reach step 7 with the same kind of carats per 100t, then it may be worth 5.00 as you claim. If it has a better count, then of course it may be worth more. I am not saying it can not be done. Markets are more educated today. Finding a kimberlite should not let Lucero or other juniors move up permantly. They may have a rally but then it will setlle down until the next phase starts. Look at Ashton's chart during the past year. It took Ashton 15 months to do the above and IMO, they have the best diamond management team of all Alberta diamond exploration companies. Can others do the same or/and accomplish the same success and spend the same budget that Ashton did in a smaller window time frame? Time will tell. Hang in there, right now there is so much action going on and it can be anybody who will find the next kimberlite. If you were to ask me that in Dec/97, I would have suggested that Montello will be the next. Now it could be New Claymore/Lucero, Montello/Redwood, Marum, Troymin, Mount Hope and so on. At current trading price of Lucero, it is as much as a good buy as other juniors are. Next month who knows.... Hope than helps. Time to go to bed...
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