I don't know if this is good or maybe it's the cause of all the volume
last week...
Kaiser's interest renewed on kimberlite find
Major General Resources Ltd MGJ
Shares issued 33,186,119 Jun 12 close $0.44
Mon 15 Jun 98 In the News
See Ascot Resources Ltd (AOT) In the News
John Kaiser, writing in the June 10 issue of his Bottom-Fish Tracker, says
Ascot Resources' recent announcement that its first drill hole on Victoria
Island intersected kimberlite sparked a strong jump in its share price. It
closed that day at 93 cents, up 27 cents, while its partner, Major General
Resources, closed up seven cents at 49 cents. The editor first recommended
Ascot in November 1994 at 40 cents, again in December 1995, at 69 cents,
and again in December 1996, at 41 cents. The company's all-time high was
reached in June 1990, at $2.65, while a more recent runup came in May 1996,
at $1.32. Alas, Mr. Kaiser finally gave up on his favourite before today's
action, recommending selling Ascot in November 1997, at 18 cents, saying it
looked like a lost cause. A revived Mr. Kaiser says Ascot's kimberlite was
found under four metres of overburden. Operator Monopros may test a number
of targets later this month. Mr. Kaiser says that while Victoria Island
remains a longshot, if significant quantities of diamonds start showing up,
both Major General and Ascot will become hot target plays this summer.
Ascot and MGJ formed a joint venture in 1993 to explore on the island.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
|
