SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Jesse who wrote (7270)4/29/1999 4:38:00 PM
From: Famularo   of 7966
 
Ashton Mining of Canada Inc. (ACA : TSE : $1.16) HOLD

52-week price range: $4.15-0.85
Shares O/S: fully diluted 27.9M
Major shareholder: Ashton Mining, 62%
Working capital (Jun. 30/98): $13M
Market capitalization: $32.4M

Yesterday, Ashton Mining of Canada reported results from four
kimberlites discovered in the 1999 winter exploration program in
north-central Alberta. The results are from single hole intersections
into four kimberlites, and we have combined the results from Ashton's
North Vancouver lab with those from the parent Ashton Mining's lab in
Perth.

The release also notes that BH-225 has a coincident magnetic anomaly
of approximately 125 m x 100 m and is near the K-14 kimberlite
complex, with further work contemplated.

Ashton and its joint venture partners, AEC and Pure Gold Minerals,
have discovered over 30 kimberlites in just over two years of
exploration. Results to date have not been very encouraging: two
more pipes, BH-229 and BM-16, have yet to be reported macro/micro
diamond content-analysis pending. If indeed the Alberta diamond
search is deemed unsuccessful, it may be a matter of years before one
can explain the number of pipes found and the paucity of diamonds.
Ashton has conducted a professional exploration approach to the
Alberta Buffalo Hills diamond play and considering the financial
health of its parent, Ashton Mining Limited (Daily Letter April 13,
1999), the Company seems likely to persevere. We call ACA a HOLD here.

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News