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Gold/Mining/Energy : Colossal Resources - CLPZF - Colbalt in Zambia
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To: kfdkfd who wrote (312)7/2/1997 7:23:00 PM
From: Tom McIlwain   of 501
 
Kevin:

I assume:

1 tonne = 2200 lbs, therefore 80 tonnes = 176,000 lbs of product

product = 12% cobalt so total cobalt = 21,120 lbs

CLPZF receives about $U.S.15/lb contained cobalt so $U.S.316,800 already sold, double that for July order. That agrees with your first estimate.

I am being somewhat generous here.

Anyone see it any different?

Tom McIlwain
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