DESCRIPTION: Colossus Minerals Inc. is an emerging mineral exploration and development company focused on Brazilian gold. Led by its skilled management team and world-class Board of Directors, Colossus has developed a robust business model that is sensitive to creating value for its shareholders. To date, the company has two high-grade precious metals projects, one of which, considered to be their "flagship"—Serra Pelada, has proven to be a geologically unique high-grade deposit with potential to delineate a significant gold-platinum-palladium resource. From 1979-1986, Serra Pelada hosted the largest precious metal rush in Latin American history. The deposit that was mined had some spectacular grades of precious metals including historical drill hole FD-032, which averaged 43 meters at 4709 g/t gold, 204 g/t platinum and 1174 g/t palladium.
The information below is based on the most recent information we have
received from analysts and the companies participating in The Gold Report.
We encourage you to visit the company's web site for updates.
"Despite a less-than-shining week for gold, shares of Colossus still managed to put in an all-star performance. Early last week, Colossus announced that a Preliminary Environmental License has been issued for the company's flagship Serra Pelada Project in Brazil. According to Canaccord Adams Mining Analyst Nicholas Campbell, this paves the way for a full development permit for the Serra Pelada project. The Brazil government needs to approve of the equivalent of a Preliminary Economic Assessment for the Serra Pelada project. This would be an internal approval, with this approval, the government could then issue the full development permit for Serra Pelada. Following the approval of the full development permit, Colossus should issue metallurgy on the project and likely conclude a land deal with Vale (VALE). With this permit in hand and as these other hurdles are overcome, Campbell believes Colossus should continue to build momentum and achieve a revaluation in the market as investors begin to view this name as an emerging producer, rather than an exploration play."
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Morning Coffee, Canaccord Capital (03/15/10)