Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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) -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (7666)	9/11/2000 8:36:11 AM
From: Famularo	Respond to of 7966

Ashton Mining of Canada Inc ACA Shares issued 29,249,415 2000-09-08 close $0.76 Monday Sep 11 2000 News Release See Pure Gold Minerals Inc (PUG) News Release Mr. Donald Sheldon reports Further drilling of kimberlite K252 has commenced on the Buffalo Hills property in north-central Alberta. A minimum of three tonnes of kimberlite will be recovered from four to six core holes. The objectives of the program are to more accurately delineate the size and shape of the kimberlite and to determine if commercial-size diamonds are present. The material will be tested for macrodiamonds using Ashton's dense media separation plant in North Vancouver. Microdiamond results previously reported position K252 among the best kimberlites discovered by the Alberta joint venture to date. Earlier testing of 107.1 kilograms of kimberlite returned a total of 135 microdiamonds and eight macrodiamonds. Two of the macrodiamonds measure greater than one millimetre in at least two dimensions. K252 has two distinct phases, a fine- to medium-grained volcaniclastic kimberlite and a kimberlite breccia which has a slightly higher microdiamond content. Coincident with the drilling of K252, summer ground geophysics and heavy mineral sampling programs are nearing completion on the Buffalo Hills property. The ground geophysical results will be used to identify drill targets for 2000 or early 2001. The detailed heavy mineral sampling program is being conducted to explain highly anomalous till samples that do not seem to be related to known kimberlite occurrences. The joint venturers on the Buffalo Hills property and their approximate interests are Pure Gold (10.6 per cent), Ashton Mining of Canada Inc. (44.7 per cent) and Alberta Energy Company Ltd. (44.7 per cent), each of whom is contributing to the K252 drilling program.

To: Chris who wrote (7666)	9/13/2000 1:53:29 PM
From: Famularo	Read Replies (1) \| Respond to of 7966

Ashton Mining of Canada Inc - News Release Ashton's principal shareholder releases target statement Ashton Mining of Canada Inc ACA Shares issued 29,249,415 2000-09-12 close $0.77 Wednesday Sep 13 2000 News Release Mr. Robert Boyd reports Ashton Mining's principal shareholder, Ashton Mining Limited of Australia (AML), has distributed its target statement to its shareholders in response to the takeover bid announced by De Beers Centenary AG on July 31, 2000. AML holds 68.2 per cent of the 35.9 million common shares of the corporation that are currently issued and outstanding. Under Australian corporate and securities laws, the target statement is comparable with a directors' circular which would be issued by a Canadian company under similar circumstances. Accordingly, the document includes an independent expert's report (IER) prepared by KPMG Corporate Finance (Aust.) Pty. Ltd. of Melbourne, Australia, and its associated independent technical consultants (collectively, KPMG). The IER was prepared on behalf of AML to assess the fairness and reasonableness of the De Beers offer to purchase all of AML's common shares at a price of $1.62 (Australian) per share and is intended to determine the fair value of AML as a consolidated entity. In order to make this determination, the valuation considered AML's assets on an individual basis without quantifications of strategic value for AML as a whole or on an asset-by-asset basis. As part of this exercise, KPMG has inferred a value for the corporation's assets of $37,122,000 (Australian) to $48,322,000 (Australian), which corresponds to a value of $1.03 (Australian) to $1.35 (Australian) for each of the corporation's common shares. Given that the IER was prepared on behalf of AML solely for the purpose of responding to the De Beers takeover bid, and noting that it does not include any allowance for the strategic value of the corporation as a going concern, the corporation neither endorses nor rejects the IER's conclusions and the range of values for the corporation's assets.