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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA) -- Ignore unavailable to you. Want to Upgrade?

To: ddl who wrote (2727)	10/31/1997 11:38:00 AM
From: Phoenix	Respond to of 7966

A quick caluluation - that is very rough and assumes some continuity and rounding off. Assume a 400m diameter pipe system, of generally cylindrical shape to about 120m (we know K14 is open at depth and was drilled to 200m). tonnage = 200m X 200m X pi X 2.45 tons/cubic metre which works out to: 37 million tons Why not cut this tonnage roughly in half to account for irregularities and such, and we have about 20 million tons. Lets assume a not unreasonable value of $100 per ton and we have an asset worth about $2 billion of which Ashton owns 42.5% or $850 million; divided by 28.3 million shares; gives us a value of $30 per share from this one pipe system. So we know we have big tonnage. We know we have diamonds in the system and that they tend to be clear. We know we have crater facies which tends to have higher grades. We know that a small sample from K14c had spectacular grades caused partially by the crushing of one or more large stones. Now we need to know if the grades hold up over a large sample. And that we will know soon. And we also know that 17 pipes are already found (100% success rate) most of which are diamondiferous.And that we have potentially hundreds of pipes yet undrilled. I think I'll hold this one for awhile. P.