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: Harry who wrote (248)	5/16/1997 4:36:00 PM
From: Werner Kurt Perry	of 501

Anybody got a take on what this means to the share price? Colossal Resources Sues Adviser, 18 Debs Holders VANCOUVER (Dow Jones)--Colossal Resources Corp. (CLPZF) filed a lawsuit against a financial adviser and 18 holders of convertible debentures. In a press release, Colossal Resources said since the defendants acquired the debentures, its stock price has dropped as the holders began converting the debentures. The company alleges that certain debenture holders engaged in short-selling and stock manipulation. Colossal suspended conversion of the debentures. The suit seeks a void of the company's conversion obligations and recovery of damages. The company's stock was trading at 2 3/8, down 3/16, on volume of 100,200 shares. Average daily volume is 97,521 shares. Colossal has a smelting unit and a hydrometallurgical processing unit. "Dow Jones News Service" "Copyright(c) 1997, Dow Jones & Company, Inc."

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