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 (187)	4/21/1997 9:35:00 PM
From: Glen McGlaughlin	of 501

Kevin, I understand next quarterly statement will be released around mid-May. Didn't ask about annual report. In terms of breakeven price I was informed by Tom Cochrane that Colossal's breakeven is $11/lb. Given that situation I also encouraged co. mgmt to re-think their marketing strategy by holding out for $25/lb. The co. apparently feels that they are currently the only significant producer of Cobalt and they can therefore short the market and drive up prices to their benefit and ultimately that of shareholders. Bottom line is that Colossal plans to begin selling product over the next 6 months and this should produce a positive earning for the current fiscal year. Tom Cochrane has promised an update to all within the next 3 days. If he does not deliver please call the toll free# 1-800-298-0244. I really don't know why but I'm feeling better about Colossal's prospects over the next 12 months. If we don't see a positive cash flow after the 3rd qtr- dump this sucker and move on!! Glen

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