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Gold/Mining/Energy : Colossal Resources - CLPZF - Colbalt in Zambia
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To: kfdkfd who wrote (192)4/21/1997 10:22:00 PM
From: kfdkfd   of 501
 
Info, Guru's response to questions raised. If $ 11 cobalt price is production costs I don't understand delay in selling.
I underlined profitablity item.

Apr. 21, Francis Scavo re: Q.CLPZF Colossal Resources

Since you are looking for answers as to why the share prices are this low, check into the following.
1. Look at their PP at Colossal's post #175 on SI. Select Capital has been dumping.
2. Everybody's talking about $25 cobalt. They are not getting $25 but only 75% of colbalt's price because it is not pure. (From a post of Doug Casey's newsletter).
3. They were 90 days late in getting there qt. reports to the SEC. This is always a red flag to me that something is wrong.

RESPONSE: We had mentioned at Market Pulse before that Select appears to have been dumping for reasons which may or may not be related to Colossal. We noticed the selling when Colossal was still trading at around $4 and asked Colossal if they knew what was up. They indicated that Select had been selling, but that they were done. Now below $2, who knows if this was the truth. Select paid quite a bit more than $2 for their stock, so who is selling at these levels who still has a profit? You would suspect that selling would dry up, even in the current market pullback, when the profit incentive is gone unless something is wrong. However, Colossal has not rebounded yet. We called them again on Friday but Mr. Gujral and others were at a conference. As far as we know the long term fundamentals remain, but until we get a better feel for what we are missing here, we are not averaging down.
Not sure about how pure the cobalt is that Colossal is processing. The First Marathon and other reports on Colossal referred to
high profitably at $20 cobalt.
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Whether this is what Colossal will gross on their sales probably doesn't matter because their analyst should have known at what purity Colossal would be processing and would have factored this in.
When we get through to the company we will have to ask them about if and why they are late in filing, if this is the case.
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