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

To: JKNF who wrote (2840)	11/12/1997 9:07:00 AM
From: Famularo	Read Replies (2) \| Respond to of 7966

Articles appear in both Financial Post and Globe. Below is the Globe's. Globe says miner's results encouraging Ashton Mining of Canada Inc ACA Shares issued 20,836,399 Nov 11 close $5.85 Wed 12 Nov 97 In the News The Globe and Mail reports in its Wednesday, November 12, edition that Ashton Mining shares, the focus of some intense trading over the past six months, were back in the ring yesterday after the latest news from the junior's Alberta diamond play. The Globe's Market movers column reports that Ashton released the first results from a mini-bulk sample from its K14 kimberlite pipe in the Buffalo Hills project. It said that while the sample is too small to make any definitive comment on stone quality, results are an encouraging indication that kimberlite K14 contains a population of diamonds of commercial size. The market appears to have agreed, pushing Ashton shares up sharply on heavy volume. The stock traded as high as $6.25 yesterday, closing at $5.90, up $0.60 on the day. Ashton has now posted a 52 week return of more than 600 per cent.

To: JKNF who wrote (2840)	11/12/1997 1:00:00 PM
From: Blue	Read Replies (1) \| Respond to of 7966

JKNF, the answer is, it costs $600 mil to build a mine. Thus factoring in uncertainty, it isn't in de Beers' interest to start up a project unless it is of extraordinary value. MPV's 5034 pipe is economic but not at the top of the scale in terms of per tonne value. So a lot of ore is required to make the project work. Also we should see this valuation go up because samples to date have actually been smaller than a mini-bulk. Larger samples usually produce larger stones and give higher values. For more info: biz.yahoo.com The following should be of interest, to all, and we can use it to benchmark new mini-bulk results for Ashton when they come: it's a comparison of diamond mines ranked by value per tonne of ore. Without this you don't know if a project is worth anything: US$/tonne Project/Mine Location $440 SUF, M-1, Klipspringer South Africa 210 Diavik (Aber-RTZ) Canada 139 Jwaneng Botswana 126 Klipspringer Sbird Blow South Africa 100 Udachnaya Russia 92 Lac De Gras (DMM-BHP) Canada 82 MPV's '5034' Canada unknown K14, Ashton Canada 78 Venetia South Africa 63 Koidu Fissure Sierra Leone 53 Jubilee Russia 50 Lethakane Botswana 32 Argyle Australia 31 Orapa Botswana Source: TD Securities Research Report on Southernera, Sept. 18/97