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Gold/Mining/Energy : Colossal Resources - CLPZF - Colbalt in Zambia
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To: kfdkfd who wrote (242)5/9/1997 2:08:00 PM
From: Tom McIlwain   of 501
 
Kevin:

Thanks for the info.

As an addenum to my previous post, here are the latest prices for cobalt. All in $U.S. / pound.

Apr 18/97 $22.85
Apr 22/97 $24.00
Apr 29/97 $24.30

That move over $24.00 represents a real breakout from the trading range of the last 6 months or so. Judging by the action in today's share price I wouldn't be suprised if it is even higher as we speak. I have noticed a lot of speculation lately that the use of electric vehicles in the next century could cause a substantial increase in the demand for cobalt. That is a way off however.

I have looked over all available information on this company and can see no reason based on information available not to conclude that the company will make it through this latest share price fiasco intact and accomplish their objectives to become a successful producer of cobalt. They may, though, be hampered by the low share price in attempts to make take advantage of opportunities for additional acquisitions in the short term.

Tom McIlwain
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