Colossal Resources - CLPZF - Colbalt in Zambia Message Board

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Gold/Mining/Energy : Colossal Resources - CLPZF - Colbalt in Zambia

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To: kfdkfd who wrote (200)	4/22/1997 2:50:00 PM
From: Tom McIlwain	of 501

Kevin: I think what we all need to focus on at this point is "What is this company really worth!" as opposed to what is the market currently paying for it. This may well be one of those "opportunities of a lifetime" that we all dream of finding out about. Based on the deposit this company is sitting on alone this stock would seem to be catastrophically undervalued at current prices. I have already picked up 1000 shares at $1.75 (last Friday) and the stock is heading lower. Remember, they are sitting on proven above ground reserves valued at $2 billion U.S. dollars. Given that alone, a share price of $8-10 would seem conservative to me. IR says their break even price is $11 /pound for cobalt. I would like to see that actually demonstrated in the financial statements, but that is the information we have to go on now and it is certainly positive. Kevin, you seem quite upset that the company has chosen to postpone sales of cobalt until higher prices are reached. There is a positive side to that, however. It indicates that the company is not currently experiencing any serious cash flow problems. That is a more positive indicator than a scenario where the company has to sell all they produce immediately at whatever price in order to avoid short term bankruptcy. I look forward to the update that Tom Corcoran has promised to provide us with in the next few days. After that I will see what questions remain. No one likes what is happening with the conversion/sale of these debentures, but at least we all now know what is going on with this share price. Knowledge is power! Let's use our collective abilities to determine for ourselves over the next while whether this is indeed the tremendous bargain it appears to be or not! No need to wait for some Guru to decide this for us. We have the abilities here to make this determination ourselves! Let's all pitch in and do it. Tom McIlwain

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