Kasier says no news is bad news for whole play
Ashton Mining of Canada Inc ACA
Shares issued 23,798,122 Jul 20 close $2.65
Tue 21 Jul 98 In the News
John Kaiser, writing in the July 8 edition of his Bottom-Fishing Report,
says Ashton Mining can blame its recent price slide on a lack of news from
the Alberta diamond play. In addition, Ashton has failed to attract new
financing. In fact, he says, a slump in the overall play can be blamed on a
lack of good-news leadership from Ashton. There is hope, however. Ashton's
10-ton-per-hour DMS plant will be operational in the fourth quarter, which
should produce some much-needed news. In addition, some results are
expected this month. Still, he says, Ashton "certainly has not put forth
any compelling arguments as to why confirming a world-class pipe in Alberta
is more than just a statistical possibility." On the plus side, Mr. Kaiser
argues the downtrend has probably shaken out investors who came in during
its run to $8.05 in May 1997, and afterwards, when speculation about the
play was still running high. The newsletter writer recommended Ashton in
December 1996 at 96 cents and has written about the company more than 20
times since then.
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