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

To: Famularo who wrote (4930)	4/30/1998 6:09:00 PM
From: JP	Respond to of 7966

Hi Frank - Remember a while back I was adamant at saying that these finds were 'scout' drilling and they were looking for Kimberlite at the time -not diamonds. A few responses said that the sample would still be good for analysis. Well if Ashton was just drilling till they found the kimberlite it would explain why they had such a small sample to analyse. If I dug a 3 foot deep hole in the corner of a football field -I would not be very confident to say that there was nothing under the football field. If Ashton was serious about these pipes at this time they would not have even bothered to analyse such a piddly sample for diamonds. They should have simply sent out a core drill to take a good sample. I think that the news release was simply to keep the exchange happy since they said it was coming. Nothing has changed really - unless Ashton subscribes to my 10% rule for Montello and they wanted to get back in sync LOL. JP

To: Famularo who wrote (4930)	4/30/1998 9:40:00 PM
From: wayne cath	Respond to of 7966

South African processing plant delayed Ashton Mining of Canada Inc ACA Shares issued 23,798,122 Apr 30 close $3.35 Thu 30 Apr 98 Street Wire Also Pure Gold Minerals Inc (PUG) INVESTORS REASSURED By Stockwatch Business Reporter The fact that Ashton Mining of Canada Inc. lost 70 cents on the Toronto Stock Exchange the day of the company's annual general meeting did little to dampen upbeat spirits at a Vancouver hotel on Thursday afternoon. In fact, the only comment Ashton president John Auston made of ACA's downward lurch to a close of $3.40 was telling a reporter, "When you can explain the market, give me a call." Mr. Auston's comment followed Wednesday's disappointing results in which microdiamond analyses from its K-3 and K-95 kimberlites returned no diamonds. The company's 52-week range is $2.41-$8.05. Despite the setback, the unflappable Mr. Auston appears to have near-universal support among investors -- at least among the 150-odd investors attending ACA's fifth AGM. The meeting received a low-key but upbeat assessment of developments at its Buffalo Hills diamond-exploration property in northern Alberta. Mr. Auston revealed the company's $2-million South African kimberlite processing plant may not arrive on time in August for its Buffalo Hills bulk sampling task. He declined to specify how long the delay would be, but indicated it would not be set up any later than October. Analyst, letter writer and Buffalo Hills specialist John Kaiser said in mid-March the longer this 10 tph DMS plant takes to be set up, the quieter the action will be on the stock. "This play won't be ready for critical mass until September," Mr. Kaiser wrote on March 16, hinting that once results are produced by the plant, the stock will once again start to perform. Ashton has two lots of samples being processed at the moment, the president said. Of those, one is a 450-ton mini-bulk sample whose results will not be ready until the fourth quarter. At one point, Pure Gold Minerals Inc. president Donald Sheldon took the microphone to help put a troublesome matter to rest. Mr. Sheldon said many investors were concerned about reports from South Africa that Alberta kimberlites do not possess the kind of chemistry best suited for diamond production. Ashton's vice-president of exploration, Wayne Hillier, rose to the opportunity, and assured the troops that classic South African chemical composition is not a prerequisite for commercial mining and that some mining takes place in kimberlite that is less-than-perfect chemistry. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com