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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: david f. dempster who wrote (5333)6/11/1998 12:14:00 AM
From: DIAMOND JIM  Read Replies (1) of 7966
 
David that's a tough choice. Think that a company pulling 100ct+ stones out of a producing development is trading only 1.60 higher than ACA would have at least some dead cat bounce potential..but with some very political baggage to deal with....

And today I was reviewing the development process at Ashton Au. Merlin mine for a refresher on the economics subscribed to by ACA's parent. Some interesting numbers: the development decision was made on samples of about 1000tn; the average grade for the four pipes slated for initial production is 43 ct/100tn with an expected value of about $100/ct; the gem quality is rated at 35%. All pipes will be open-pit operations. The gem numbers floating around for our small samples is substantially higher and we are likely to hit similar or higher ct/tn figures.

The interesting feature of the Merlin bulk samples is that the $/ct assessment was not performed on the smaller samples of about 500tn. Will the K14 bulk be treated in a similar fashion and will ACA wait until 1000tn+ sampling is completed? Whatever way we look at our current situation the numbers are shaping up.The largest stone in the Merlin samples was about 10ct in a 1000tn sample. I am willing to forecast a 5ct stone in the K14 bulk. Regards DJ
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