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Gold/Mining/Energy : Zappa Resources ZPA vancouver -- Ignore unavailable to you. Want to Upgrade?

To: dean poets who wrote (983)	6/15/1999 3:58:00 PM
From: Alan Whirlwind	Respond to of 3198

Okay, while I dig up AG's 1-800, a few comments in order. #1. We are supposed to have 2.2 million EMC share to sell this September. On page 14 of the annual report, it says the company will have available 1,330,000 shares IN ADDITION TO SHARES SOLD AT THE 1998 YEAR END. My emphasis. So we really don't have the 2.2 mil anymore? I realize I am probably misreading this. EMC is currently around .90 a share--double from just a number of weeks ago. #2. From 1997 to 1998 the "identifiable assets" of the company in Canada went up two and a half times from 218,194 to 585,279. What are these assets? #3. Zappa will retain a 2% net smelter's royalty on any ore mined from Papa Grange, Guadalupe, and Mollopongo properties exchanged in 1998 for EMC stock. That's a nice income stream. How many years before EMC actually mines anything? #4. Page 13 of the Annual Report says that collection of the remaining $90,000 from the sale of La Fortuna was deemed "unlikely". But we did get almost half recently. All said and done things have tended to fall our way this year. Just some random thoughts. --Al