I mentioned in a previous arcticle my concern of Cambior Minerals aquiring
Zappa for cheap. I now also feel Zappa's management is trying to give
the company away. The following are several reasons why I feel this way.
1. a) On December 23,1996 Zappa issued a news release stating the deal
with Cambior was not finalized, but Cambior had already completed a drill
program on one of Zappa's properties in early December.
This appears really strange to me, mostly because the deal hasn't been
finalized. Secondly, wouldn't a junior mining company promote the fact there
was a drill program, management claims they didn't know they were drilling.
b) Some results still aren't out yet, from a drill program done in early
november, while 90% of results were released in early December.
c) The last thing I'm gonna say is, Zappa's trading patterns have been very
strange at times. Some days it opens 5 - 8 cents per share below the previous
days close. Other days someone sells 500 shares at the bid price, so the stock
closes at the low.
Although I'm still a shareholder, im becoming very confused, because this
company has an awful lot of value and tremendous potential. if anyone has a
comment let me know.
Dean Poets,
fellow investor |
