It looks like we are gonna hold those shares of EMC, as Zappa hasn't sold a share since we've received our first payment of 500,000 shares of EMC. It is kind of strange to see EMC trade several million shares before the deal was finallized, but basically hasn't traded since?
Zappa's monthly burn rate is now below 15,000 a month, compared to about 45-50,000 a month before we got rid of the Ponce Enriquez properties.
There was an article in the Northern Miner this week, and Cambior was featured on the front cover. The article was kind of praising them for diversifying themselves into base metals. They have been able to remain profitable because of there diversifacation. The article also discussed one of their mines in Quebec, in which the reserves were estimated @ 8 million tonnes with grades averaging around 4% Zinc, .8% Copper, 2.1 grams Gold, and 25 grams Silver. The Northern Miner was saying how great this property has been for them. HELL Zappa's Laplata property is finding grades at least 2-3 times better! Zappa has about 1.5 million tonnes proven with grades averaging 6% Zinc, 4% Copper, 5.5 grams Gold, and 60 grams Silver.
Bigger things are sure to come out of this property as there has only been a total of 28 holes drilled in the last two years. Imagine the interest Cambior will attract if they announce a 50 hole drill program for early next year!
Dean
PS I also thought I should mention that holes 27 & 28 Didn't miss completely, but management isn't interested in publishing holes of 2 meters in thickness or less, cause we are looking for something much bigger! |
