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

To: dean poets who wrote (549)	8/19/1998 9:00:00 PM
From: G.T.	Read Replies (1) \| Respond to of 3198

Hey Zappa Man The market will let us know ahead of time if the drill hits something big. The market conditions are far different now than in Jan 97 for the resource sector. Personally I would be happy if they continue to extend the high grade lens 50m at a time. It would be great if Cambior increased this or future drilling programs then people would feel a reason to buy. Under current conditions only a large high grade intercept will compel people to jump into the stock in this market. The bear continues to rip apart the junior golds. Many are extremely attractive at current levels. Most people believe they will continue to move lower and who can argue at this point. The Mar West merger is a good barometer of the sector at this point in time. The shares continue to sell at a 20% discount to the buyout price. Normally buyout stocks sell at small discount allowing for brokerage fees. This tells me people are not thrilled moving from an exploration company to a gold producer currently at break even. In an average market Mar West would have been snapped up. At todays close you can still make 50 cents per share. For people who were or are looking to buy Glamis buy Mar West and save $1.00 per Glamis share. You have made a good point with the hype stocks, since a hole is not in the ground they can say the mother lode is underneath. In this market this leads to a quick funeral after the first hole is released for your money since people refuse to pay for the most part hype. Proven deposits are going for fire sale prices and these are the ones to be picking up. Zappa continues to increase tonnage and now has shown hints of something much larger. At under 20 cents it sure looks good even in this market environment. One day the bear will go feed on some other sector and the gold sector will come back. The question we all face is when