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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: Sal Pugliese who wrote (5356)6/15/1998 11:13:00 PM
From: Famularo  Read Replies (1) of 7966
 
Sal, the downward trend in the resource market has not helped Ashton and Pure Gold. As well, no other company has found a pipe in Alberta. That is not good and does not increase the creditability of this play. As soon as others find a pipe, focus will shift back to the leaders of the play. I have my fingers crossed for New Claymore and Lucero. They are drilling and we should hear soon. There is a downward technical trend on Ashton since Jan BUT it can just go so low before it reverses itself. There will be lots of cash to invest in Ashton and maybe one or two others. We are hoping to finalize the capital group later this week. However, we need to work ourselves into the market. My point is we will not put a buy order at market to buy 100k orders and purchase all in a week or two. Sal, as for your comment re analysts recomennding stock and not going up is very common in the resource market this year. However, I firmly believe that the good fundamental companies will be the first to turnaround.
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