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Gold/Mining/Energy : MINK MINERAL RESOURCES
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To: Jim Andrews who wrote (502)6/23/1998 1:29:00 PM
From: Bylo Selhi  Read Replies (1) of 637
 
<< maybe tomorrow or the next day Ashton may bail us out >>

You've been saying about this Ashton bailout (...and hoping) for quite a while now, but how can Ashton actually do that? Mink is drilling and Ashton is assaying the samples. If Mink doesn't hit the paydirt (and George has already explained quite graphically to this audience how difficult it is to hit a diamond with a drill bit), do you think Ashton is going to drop a couple of big diamonds into those 500kg dirt samples that are being flown a half way around the world to them? Maybe Ashton is not interested in finding any diamonds at all. Maybe Ashton wants the whole pie for themselves. A half of the pie has already been given back to the Mali's government, and maybe Ashton is waiting for Mink to give back the other half, so they can get the whole concession for themselves. Considering the current market conditions and the fact that Mink's coffers are virtually empty, it is possible that Mink might default on payments to the Mali's government. I understand those concessions are not free. Ashton can afford to wait and see. After all, Ashton does not incur any drilling costs (Mink does). I don't see why Ashton would be interested to bail out Mink. The big guy always eats the little guy in this business... just the devil's opinion. Can anyone present the brighter side? Thanks in advance!

-am
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