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

To: chummer who wrote (4446)	3/14/1998 3:59:00 PM
From: DIAMOND JIM	Respond to of 7966

Hi BB..The $60/ct is a figure determined for the pipes in the NWT slated for production. The presence of fancies in the ACA pipes would tend to increase the value - the NWT does not seem to have fancies. The valuation and grade of the very small sample we have is being refered to as exceptional. Our estimate is likely conservative. Determining a pipe's value using our type of calculation based on pipe size is probably a good ballpark approach. Clearly the estimate for the $20 billion Orapa pipe uses a similiar approach. Note we are looking at only one pipe - with K91 ct/tn coming soon and likely another 13-15 new pipes to analyze, a betting man might be tempted. I was this week and increased my position by 80%. Regards DJ