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. WEBSITE: http://www.colossusminerals.com Closing Of $24.7 Million Bought Deal Financing (3/10/09)
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.
"Colossus has experienced a pullback in its share price along with the rest of the junior mining space; however, it did not participate in the rally as other junior miners did when the price of gold ran up from October to December 2009. An equity financing and subsequent warrant acceleration slaked much of the investor demand for CSI shares in 2009. In 2010, investors appear to be waiting for the company to de-risk the Serra Pelada project. We are waiting for metallurgy, mining methodology, approval of an EIA, receipt of a development permit and a land deal with Vale. As these hurdles are overcome and investors' confidence builds, we expect the share price to rally. Colossus has C$103 million in cash and an additional C$31 million in in-the-money options and warrants, which we expect will be more than sufficient to finance the development of Serra Pelada."
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Junior Mining Weekly (02/02/10)