Looks like Cambior is continiuing to suck Zappa up for cheap! Brokerage firms are to busy selling all their crappy stocks, and they aren't telling people to buy this one! Here's the latest press release, and it looks like we are going to have a mine. Cambior will probalbly announce a deal with EMC in the not to distant future. Cambior has a history of taking over companies when they are out of favour. Who do you think has a better judgment of junior mining properties your broker or a senior mining company? Obviously Cambior is in a great position to be the operator of a 5 Million Ounce deposit. People must be wearing blinders to miss out on Zappa and Ecuadorian minerals!!!!!
Dean Poets
Proposed private placement
Zappa Resources Ltd ZPA
Shares issued 17,053,790 Jun 6 close $0.52
Mon 9 Jun 97 News Release
Mr Albert Gerry reports
The company has finalized private placement discussions with Cambior Inc
pursuant to the completion of which, the company would be required to issue
up to 1,727,272 shares to Cambior at $0.55 for $950,000. Proceeds will be
used to provide the company with additional capital required to make its
next US$70,000 payment in respect of its Mollopongo concession and to make
its final US$600,000 payment to earn a 50% interest in its Papa Grande
concession. The company, under Cambior's supervision, has completed two
phases of drilling on its Papa Grande and Mollopongo concessions. A
conceptual feasibility study on these properties will not be available
until late this week, however, the Papa Grande land payment must be
completed by June 16 1997.
There are no finder's fees or commissions payable by the company upon
completion of the proposed private placement.
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