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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: Famularo who wrote (7197)3/12/1999 7:43:00 PM
From: Jesse  Read Replies (2) of 7966
 
Kaiser stays faithful to Ashton

Ashton Mining of Canada Inc ACA
Shares issued 29,230,665 Mar 12 close $1.05
Fri 12 Mar 99 In the News
John Kaiser, writing in the Feb. 26, 1999 issue of his Bottom-Fishing
Report, remains supportive (if not exactly upbeat) about his old pal Ashton
Mining. He is also underwhelmingly keen on the entire Alberta diamond play.
Mr. Kaiser placed Ashton on his current bottom-fish list in December 1998
at $1.10; his buy recommendation at 96 cents in December 1996 came shortly
before an Ashton kimberlite discovery kicked off the play, and the stock
went to over $8 in May 1997. In his current report, the much-followed
letter writer defends both Ashton and the area play. "What has changed that
makes everybody so negative today?" Mr. Kaiser asks. He points out that the
company intends to spend $7.4-million on exploration this year. The current
program includes drilling 25 targets on the 5.7 million acre Buffalo Hills
joint venture claims. The program, however, will leave Ashton with only
$3-million in working capital by the end of 1999. While Mr. Kaiser
acknowledges that Ashton will not be able to raise a nickel in Canada if it
fails, "the fundamentals for a home run remain too good for Ashton to be
left out of a bottom-fish portfolio."
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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