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

To: Famularo who wrote (3028)	12/2/1997 2:57:00 AM
From: Al	Read Replies (1) \| Respond to of 7966

Ashton has maintained in the $5 level even though it didn't meet expectation in the previous news release. I was wondering why that is so. The releases previously indicated a large amount of macros and broken stones, however the sampling results we got from the previous results didn't match with those. Even when it got coverage from a major network, all that happened was a small spike (the volume was also less than what it used to trade at during those times). Is ACA trading at these levels from a tradeoff from speculation and security? Was the trading in the $5 range previously weighted more on speculation and less on security, and now more on security (due to passing a stage in economic feasablity) and less on speculation (to a major mining operation from the really good results it got before) ?

To: Famularo who wrote (3028)	12/2/1997 2:38:00 PM
From: DIAMOND JIM	Respond to of 7966

Frank I am about three hours drive from the Ashton property - In my normal course of business I must have over flown the site many times during the past several years . I have not visited the site but wonder if the company would permit "tourists" (aka shareholders) to rubber neck and Polariod the operation. WRT the forest cover in the area depicted in the Miner, many folks might be surprised to learn that the majority of northern Alberta is forested with major papermill operations accounting for the third major economic sector after oil and agriculture. The DMI plant in Peace River holds the timber rights in the Ashton area. Re Glenn's observations concerning access, he is right on the money. However the Red Earth highway (Hwy 88) and Hwy 986 would be the primary routes out of the K14 region which are all-weather, unpaved roads. Many oil service and logging roads are also all-weather in the region so winter-only access many not be as large an obstacle. Re this morning's news: clearly the market is not too excited and will likely react to the mini-bulk results much more decisively. Do you expect all the mini-bulks will come at once? In any case considering the overall weakness in the sector (ABZ, SUF in particular) ACA is holding up well. Clearly and coloressly yours. DJ