Zenda Capital Corp. Message Board

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Gold/Mining/Energy : Zenda Capital Corp.

TRR 17.55

0.0%

Jul 5 5:00 PM EST

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To: marcos who wrote (6)	11/12/2003 3:54:59 PM
From: E. Charters	Read Replies (1) of 217

Zenda is a few guys I know with some secretive Toronto and Northern Ontario money behind them. No shareholder has more than 220,000 shares ostensibly but I am sure there are some proxying positions far larger than that. They have picked up a few plays in burgeoning areas. The properties are all former mines, or gold resources of old (1945) work, that has seen desultory low money work in the past. These kind of things can develop into more interesting plays, particularly with major drilling money (100 holes etc. or deep drilling) but can be quite obdurate for people hoping to get lucky on the market with a few pops. What is good about Federal is 1. there is gold there. 2. It is on the strike extension of 2 good mines, the Sylvanite and the Toburn, that made real money. 3. KGI is doing a hell of a lot of work right next door (relatively) to them. 4. the depth potential is real down to 5,000 feet. 5. the ore comes right to surface, there is no overburden to speak of and exploration is dirt cheap. 6. a small operation can ship to one of 2 toll mills down to .25 ounces per ton in thta area and make a bit of money. 7. they are in a mine friendly area with loads of cheap help. 8. It will be ultra cheap to develop quickly in that area if the ore picture starts to magnify. 9. At 14 cents in this gold market their shares have to be a buy. 10. They are raising money for a good program in there, and with as little as 400K in their and the right direction they can make a lot of noise. I see 30 cents on this within 1 month. I am trying to get them to get me to help them focus their program in their to maximize the picture. I believe that the smaller structurally controlled veins need very special work to reveal their potential. We are talking to them about how to get a handle on this by drilling and assaying techniques. This was always a big problem at the Macassam, which has near identical structures. The saying there was "drill for structure, drift for grade". Unfortunately a small company cannot afford to do that. They have to come up with solutions that are technical to elucidate the true grade potential that may get lost in the sample handling sometimes. They have to do pulp and metallics in some cases. The Toburn next door ran at .50 ounces per ton for many tons. The Sylvanite was even higher grade. Does their magic extend onto Federal? Time will tell. EC<:-}

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