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

To: ddl who wrote (4933)	4/30/1998 7:13:00 PM
From: Joe Sing	Read Replies (2) \| Respond to of 7966

AGM Update I received the following remarks from an attendee of the meeting: About 150 people were there (about 30 Ashton staff)....they had to bring in additional chairs. Despite this, the whole meeting lasted only 50 minutes! John Auston gave his usual spiel, with no new revelations. He did add emphasize, however, that the yellow diamond found in K6 was of "very high value." He showed and photo of it, prompting everyone in the audience to stretch their necks. With reference to the current samples, he said RC drilling was quick and low-cost, and "that it gives non-representative measures." The purpose of its use, he said, "was to validate magnetic signatures." He also you some illustrations to demonstrate how the most promising pipes are the ones in the northern cluster, while those on southern one (including yesterday's results) are disappointing. The floor was then opened to questions, and there were four takers (one was a broker from GP who asked about AML operations). The only interesting question came from Don Sheldon, who asked rhetorically about chemistry. Apparently Don has been trying to market the ADP to the institutional set without success. According to his statement, they are not suitably impressed with ACA/PUG's chemistry. Auston and Hillier replied that chemistry works very well as a prioritization tool in South Africa, but that the absence of -- let us say, G10s -- does not preclude a viable project. To this end, they mentioned the Premier pipe, which has inferior chemistry, but a ultra high grade. The chairman then pointed out that Argyle didn't even have kimberlite, yet it is the largest ct producer in the world. The meeting then adjourned Overall, I get the impression it was anticlimatic.