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

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To: Francis Scavo who wrote (203)4/22/1997 6:26:00 PM
From: Tom McIlwain   of 501
 
Francis:

<< Colossal has about 6mil. now and could have after it's all done 12mil?>>

This is why I would like to find out exactly what the latest count is for total amount of debentures converted to date. So we can get a handle on this. (Tom Corcoran are you reading this?)

Don't forget however, that they would have had to convert a lot already to get the price down to it's current level. If it turns out that, when all is said and done, average conversion price was $2.00 then we would have an additional 2.5 million shares. Nowhere near as bad as you have suggested. That is my best guess until we get some hard data.

Tom McIlwain
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