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: Francis Scavo who wrote (325)	7/22/1997 10:36:00 PM
From: Steve Huskey	of 501

I have to agree with your assessment of management. They are behind. Yet I think they are proceeding with the plan. They are now selling ore and the "mine" is operating. This is a significant improvement over the past year. We are moving out of the realm of promises and into that of production. I spoke with the company. There are still about 1/3 of the convertibles out there ( around 1M ? dont know). Anyway they said they figure there are now 12-13M shares FD. They have no idea what the float is. All in all, I think things look better now than they have in any time in the past. I am interested in how much profit they made on this 160T they reported selling for July. I asked the company for some figures, but they never replied. I did some quick figuring and estimated an approximate EPS of around .19 assuming a profit of $10/lb on the cobalt only and the same production rate for one year. Any other guesses? Stve

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