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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: Letmebe Frank who wrote (6949)11/25/1998 8:42:00 AM
From: Mr Metals  Read Replies (1) of 7966
 
Ashton Mining of Canada Inc -
Globe says stock plunges on "really bad" test results
Ashton Mining of Canada Inc ACA
Shares issued 29,169,790 1998-11-24 close $1.13
Wednesday Nov 25 1998
The Globe and Mail reports in its Wednesday, Nov. 25, 1998 edition that investors knocked 54 per cent off the value of Aston Mining of Canada stock in heavy trading yesterday after the company reported disappointing bulk testing results from its Buffalo Hills diamond prospect in Alberta. The Globe's Angela Barnes writes that Ashton shares fell $1.29 to $1.11 on the Toronto Stock Exchange following the release of results from the K-14 kimberlite. More than 530,000 shares changed hands. A First Marathon Securities analyst said it was obvious that there was some anticipation of good news. John Kaiser, publisher of the Kaiser Bottom-Fishing Report, said the results were "really bad." Ashton acknowledged that the finding was "disappointing and indicates that kimberlite K-14 would be unlikely to support an economically viable mining operation." Despite the finding, Ashton says it remains encouraged by the overall prospectivity of northern Alberta for diamonds.

(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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