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Gold/Mining/Energy : Zappa Resources ZPA vancouver
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To: morrie who wrote (536)8/15/1998 3:57:00 PM
From: G.T.  Read Replies (2) of 3198
 
Elephant found in Ecuador ?
Hi Morrie, It is amazing that the company is at 17 cents CDN or under 10 cents American. Liquidity has all but dried up in the junior sector. I can only wonder how long before it dries up in the major market as well. Zappa continues to extend the high grade zone and the last hole had sniffs of something much larger.
The first hole of the latest drill program will be finished by now. If they hit the market will let us know if the information is good or bad before the press release. Zappa has been better than most at keeping the information quiet before results are out. The market will have no choice but to bid the stock up if results continue to be the same or better than those of the past. Few deposits have a NSR of over $140 U.S. per ton.
Drilling will be underway by monday on the step out fence to the south of the last reported hole of 14% cu over 9.8 m.
All we can do is watch and wait. This sector continues to purge itself of the excesses of the past. It is the best of times if you are buying stocks to build a position in this sector. Stick with companies that continue to build reserves and avoid all speculative issues as there is no reward for speculation in this market only destruction of ones assets.
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