Ashton Mining of Canada Inc -
Kaiser says no news is bad news
Ashton Mining of Canada Inc ACA
Shares issued 23,798,122 1998-07-28 close $2.3
Tuesday Jul 28 1998
John Kaiser, writing in a Bottom-Fish Tracker of July 27, comments that Ashton Mining of Canada's recent exploration update, released also on July 27, suggests the Alberta diamond play will "stay submerged" for the next six months. The often-recommended Ashton, which reached $6.75 on January 15, closed on July 27 at $2.50. Other players in the Alberta diamond play have also experienced similar or worse price drips this year. No further work is planned on the three most-recently worked of Ashton's kimberlite pipes -- K32, K93, and K15. On the plus side, grade results for the K91 mini-bulk sample are nearly ready and are expected by the end of July. Mr. Kaiser laments the K91 results will probably be the only news of consequence that Ashton will produce during the next six months. "The most disturbing aspect of the July 27 news release is the implication that Ashton will not be drilling new targets until next winter," he says. In the past 16 months, Ashton has discovered 23 kimberlites, of which 16 are diamondiferous.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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