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

To: Famularo who wrote (4796)	4/13/1998 11:37:00 AM
From: Jesse	Respond to of 7966

MEG Morsel Alert J.Auston was asked a question re. target success by an audience member, and so supplied this info: ACA president John Auston said that in 1997, all Priority '1' targets were hit, 10 for 10. This winter, all targets have not been priority '1' targets. Auston said, "Priority '1' targets, plus others, have been drilled, which is why we're getting 60-70% effectiveness in drilling this year." JA stressed the importance of target data (magnetic anomaly, map) 'reduction' or filtration in selecting drill targets in the BHT. Auston also remarked that the RC (reverse circulation) drill they are using offers less representative samples than when using a 'core' drill. The next day, Sheldon made reference to these stats, and pointed out that some of the targets that were abandoned were not necessarily 'misses', and that they will return to the targets. DS said they drilled a total 13 holes (from a planned 15 targets) and found 9 new kimberlites. ---------- Budget: Sheldon said the K14 bulk sampling is at a cost of $1.2mil, the K-91 MiniBulk at $300,000 ... these, including the 10tph plant and Nine new kimberlite sample analyses will mean a budget for '98 expected at about $12mil (Sheldon), or $10mil (Auston). - Sheldon commented that the 10tph DMS plant will be located in Red Earth, Alberta. more to come! -j :>

To: Famularo who wrote (4796)	4/13/1998 11:53:00 AM
From: Jesse	Read Replies (2) \| Respond to of 7966

Frank, by the time Sheldon spoke in the afternoon, the audience had shrunk in numbers from the first day-&-two-thirds of information bombardment. There may have been 130 or less in the room (don't know). Sheldon spoke well after market close on Thurs, so the rights had expired. The Fortune Nico and Sue-Dianne (NWT) talk in the morning that day may have scared everyone away. It was incredibly long (their speaker went more than double his time-slot of 20mins, selfishly forcing next speakers to go through lunch) and v.boring-- to me anyway. I think after that folks were burnt out! --just MO Victory's Desjardins spoke last in the day, to only about 50 remaining people. For this reason, he kept it brief and mainly stated that they are a co. with a 'market background' management and plan to stick to hot area plays. :>