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

To: ddl who wrote (4104)	2/27/1998 11:57:00 AM
From: Jesse	Read Replies (2) \| Respond to of 7966

Hi Folks! I myself was able to attend the gala Yorkton affair last night! -- The posh meeting room at the Westin was large, with approximately 575 in attendance (lotsa suits). A good 40+ employees waited on attendees throughout, with a free full-service bar at the ready for all. No spared expense: jumbo shrimp in Pernod or Courvosier flambe, cooked as you watch, personally carved roast beef tenderloin, oysters on the half shell, premium red and white wine and beer served as you stand and circulate (much more food, including grape leaf-wrapped something, tons of hors' doeuvres, cold cuts, etc). The huge strawberries dipped in chocolate were delicious- Great Starbucks coffee! The three presentations were well done, with gorgeous huge slides and a clearly audible sound system. Some beautiful graphics of various anomalies were shown. One key point among speakers was the size of the AB kimberlite areas. Huge. John Auston's speech was the best, imo. He commented on the vastness of the K-5 kimberlite (I missed any dimensions, also, no word on bulk sample results), and later K-14. He showed several illustrations and diagrams, including the main property block with pipes and targets. K14 was shown from overhead as a series of anomalies (mag-- 14a,b,&c), and the pipe itself was graphically represented (vertical X-section), showing how K14C had been drilled through a swelled 'apron' from the main K-14 pipe. As mentioned, the slide of the yellow diamond from K6 (written on the slide as .77ct) was breathtaking -- as John Auston put it, "a beautiful deep yellow color." Auston said the size of the stone was 6.8mm. JA said that the lower stone count of K6 means they'll go after different pipes first, but the yellow diamond, "cries out for more work." --He commented on the 10tph DMS plant that will be built in AB, as their 1tph plant in North Vancouver is too busy! ---John mentioned that some areas of exploration/ drilling would have to be vacated for calving season in 4-5 days, I'm not sure how long (couple weeks?). BB or Russell did you catch more on this? Art Ettlinger (of Yorkton), made the sobering point that to date Ashton has spent no more than $6million and discovered at least 10 diamondiferous pipes--- ! He described the many companies involved (esp. the ones they've already put buys out on), and their current less than $10-30mil market cap and the expected $300mil market cap upon valid discoveries. --Ettlinger said the $10mil budget announced by Ashton is expected to be spent over the next 3-4 months. When Auston was later asked about this, he responded that he didn't think Ashton would need to "go to the market" this year for further financing, since they had, as of the end of last year, $18.1mil in the T. One comment: I was amazed at the attentiveness of the crowd thru the talks, especially given its size (575 or so, various ages and genders present!;) and the fact that a fair bit of free liquor had probably been consumed (bear that in mind when reading my report-- I had had a couple glasses of wine myself!). The presentations were v.good, and I think interest was high. I have yet to look over some of the packages I picked up, esp. the one from Yorkton received upon arrival. The actual program itself was barely over an hour in total (though I think post-presentation confabs lasted til at least 10:30pm). -I think some buying today may be out of last night's show-- a lot of money was walking around there last night. Cheers, -j :> PS-- BB, Russ, or JP-- if you can expand on or correct anything I've written here, feel free! (or anyone else!)