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TOPIC: Colossus Minerals
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#20285
Re: Colossus Minerals 1 Year, 6 Months ago Karma: 255
Thanks for the post Debsyl!

For pretty much any other gold miner, these drill holes would be getting investors very excited. However, when your primary deposit boasts "bonanza grades" of three different precious metals; then expectations tend to run high.



Brian can correct me if I'm wrong, but my understanding is that this drilling comes from a SEPARATE zone of mineralization -- and thus is just a bonus on the superior deposit which they originally drilled-out. Note that these grades are still MORE than good enough to be profitably mined. Indeed, with all three metals present in large concentrations, the platinum and palladium credits will allow the gold to be mined at at a cost of less-than-zero per ounce.



What Colossus is demonstrating here is additional years of MINE LIFE. In other words, the only POSSIBLE reason not to bid-up this stock to many multiples of the curent share price is that (at this point) they haven't conclusively demonstrated enough ore for more than roughly a decade of mining.

However, by steadily adding to their total land package, and by exploring/finding NEW ore in the area; the Company is rapidly approaching a "critical mass" in its total resources which will FORCE a further upward re-valuation of the share price -- especially with production getting closer and closer...

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#20286
Re: Colossus Minerals 1 Year, 6 Months ago Karma: 69
With this round of underground drilling, they showed that the cmz was thicker than previously estimated with one (underground) drill hole. The other shows the lower limb, previously called the GT Zone, has better mineralization than the surface drilling indicated.
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#20608
Re: Colossus Minerals 1 Year, 5 Months ago Karma: 204

Colossus Minerals Provides Development Update
Nov. 12,2012
finance.yahoo.com/news/colossus-minerals...pment-110100332.html

TORONTO, ONTARIO--(Marketwire - Nov. 12, 2012) - Colossus Minerals Inc. (the "Company" or "Colossus") (CSI.TO)(COLUF) is pleased to provide a status of development at its 75% owned Serra Pelada Gold-Platinum-Palladium Project. The Serra Pelada Project is a joint venture between Colossus and Cooperativa de Mineração dos Garimpeiros de Serra Pelada ("COOMIGASP") located in the State of Pará, Brazil.

The Company is hosting a site tour for investors and analysts today where new members of the site's management team will be introduced. The Company is pleased to report that critical milestones remain on schedule and an experienced team of professionals, both in the underground operations and overseeing surface construction, remains in place despite the management changes announced last week.

Highlights

Secondary development to access the bulk sample is well underway with just over 100 metres left to reach a new and deeper part of the Central Mineralized Zone providing a larger horizontal and vertical panel from which to extract a more representative sample.

The bulk sample will consist of approximately 1,500 tonnes of material, a portion of which is to be collected and sent for testing to Metsolve in Canada.

Ground conditions and water inflow remain very manageable.

Plant construction progressing and remains on track for completion in the first half of 2013.

Claudio Mancuso, President and Chief Executive Officer commented, "While the development phase of any mine is challenging and we've dealt with our share of personnel changes, we are pleased with the progress we are making and continue to anticipate production early in the second half of 2013."

Construction and Development at the Serra Pelada Project

Underground

The bulk sample location was modified as part of the Company's periodic re-evaluation of mine design and, as previously announced additional development was added to the plan to provide for an improved quality sample. Access has been collared and the development heading is well underway; the extraction of the bulk sample remains on schedule for the fourth quarter of 2012. The bulk sample will consist of approximately 30 metres of development through the mineralized deposit to extract approximately 1,500 tonnes of material. Ten to 15 representative samples of 300 kilograms each will be collected and sent for testing to Metsolve in Canada.

Secondary development continued with the excavation of a second underground drill bay from which delineation drilling commenced. In total over 1,500 metres of underground development has been completed. Underground mine dewatering has been upgraded and additional high volume pumps installed to facilitate the pumping of water directly from one of the deeper sumps to surface. The first underground electrical substation has been commissioned, resulting in improved power delivery and reliability of the underground project infrastructure.

During the third quarter of 2012, an existing artisanal shaft was purchased and is in the process of being converted to a ventilation shaft. The underground connection to this shaft access is ready for break through after the shaft is dewatered which is anticipated to be completed by the end of November 2012. Surface fencing of the shaft is complete and construction of a concrete collar around the artisanal shaft has begun.

During the third quarter of 2012, a comprehensive re-assessment of equipment requirements was undertaken to optimize productivity and minimize equipment rentals. As a consequence, the purchase of several new pieces of equipment was planned. The Company is finalizing an agreement with Caterpillar to purchase four machines to aid in civil work and stockpile management. The Company also decided to change from standard surface dump trucks to four purpose-built Atlas Copco MT-431B trucks. This change is anticipated to reduce maintenance, allow for tighter radius turns and increased gradient in the development plan, and to increase per-load hauling capability. The four trucks along with a Boltec MC Rockbolter and a Simba 1254 Fan Drill are anticipated to be purchased from Atlas Copco. Two of the trucks are expected to arrive at site during the fourth quarter of 2012 and the other two are expected to arrive with the bolter and drill in the second quarter of 2013.

Infrastructure

Construction continued on additional camp accommodations and infrastructure. The infirmary has been completed and is operational; the main office is complete and operational and the new 41-unit camp has also been completed. Construction of the power generation building continued and is expected to be completed early in the first quarter of 2013. The previously announced financial problems with Pará State's electrical transmission company ("CELPA") have now been resolved as CELPA was purchased by Equatorial Energia, Brazil's second largest power distributor. Construction of the power line is well underway with connection to site expected to occur in the first quarter of 2013.

Processing Plant

DRA International is responsible for engineering and Merit Consultants International Inc. is responsible for overseeing construction of the processing plant. Construction of the processing plant is expected to be completed in the first half of 2013. While a significant amount of the site earthworks had been previously completed, additional terracing and slope stabilization work is required and this has delayed the start of civil construction, which is expected to begin imminently. This minor delay caused by additional terracing requirement is not expected to cause any schedule delays as the Company has augmented the contractor's slope stabilization work with the use of its own equipment and personnel. Slope stabilization is expected to be completed in the next ten days and civil construction will begin immediately thereafter. All of the major plant equipment has been procured and the Gekko reactors and Falcon concentrators are expected to arrive on site during the fourth quarter of 2012. A steel purchase and erection contract has also been awarded with the first structural steel delivery anticipated in December. A contract to purchase all the necessary conveyor systems has also been awarded with conveyors expected to arrive in the first quarter of 2013.

Visits from Regulatory Agencies

Throughout September and October, site visits to Serra Pelada were conducted by SEMA (Secretariat of Environment of the State of Para) and DNPM (National Department of Mineral Production). The work of the environmental and community relations departments was praised with a number of significant strengths noted including a stated intention by SEMA to use the environmental program conducted at Serra Pelada as a benchmark for other companies. Equally important was the fact that only minor weaknesses were identified and no written infractions were issued. The weaknesses were addressed within 15 days and have already been inspected during a follow-up visit.
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#20611
Re: Colossus Minerals 1 Year, 5 Months ago Karma: 255
Thanks for the post Earl!

Reading "between the lines", my interpretation of this news release is that the Company has encountered some MINOR problems (and delays) as it works toward commercial production (and the preliminary "sampling" which comes before that).

Obviously with any news release of this nature, we must assess the CREDIBILITY of the Company putting it out. Here is where Companies can benefit by being "straight shooters" that are generally as good as their word.

Recall a little over a year ago when Great Panther Silver was under considerable (market) "pressure" after some minor operational setbacks AND a very unflattering media-attack (which turned out to be pure B.S.).

BECAUSE that company had previously demonstrated that it's "word" was a reliable indicator for its future performance; I wasn't afraid to go out on a limb and predict (as the Company asserted) that these were just minor hiccups which would quickly blow over -- and that was exactly how it played out.

Similarly (as far as I've seen) Colossus is a Company which has consistently meet-or-beat expectations in terms of representations from management. So (as a shareholder) I'm quite prepared to accept the Company's explanation/characterization of recent developments -- and continue to look forward (with great anticipation) to when the Company actually starts processing some of this "bonanza grade" ore.

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#20612
Re: Colossus Minerals 1 Year, 5 Months ago Karma: 69
They are going to rock when they finally are processing. I expect significant delays on route to that. I wouldn't be surprised if commercial production wasn't until 2014. They should be processing before then certainly. I'm buying in the dips here.
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#21362
Colossus ready to begin "sampling" at new mine 1 Year, 3 Months ago Karma: 255
For those investors in Colossus Minerals who have become frustrated/discouraged by the absurd share price at which this company has traded for most of the last 18 months; this should be welcome news. The mine development has now reached "mineralized ore" in its development process as it readies for production, and consequently is now ready to ship-out roughly 15 tons of ore from the mine for testing, and evaluation of their overall extraction process.

Obviously all construction is not yet complete, but clearly this shows the Company is now in the "home stretch" with respect to beginning initial production from the mine, which will be followed by full "commercial" production once the (inevitable) kinks are worked out in the extraction process, and a steady stream of ore to their mill can be assured.

Best of luck to all (fellow) CSI-holders in 2013 !!




Colossus Minerals Reaches Mineralized Zone in Secondary Development

www.colossusminerals.com/English/Investo...1132433/default.aspx

TORONTO, ONTARIO--(Marketwire - Dec. 31, 2012) - Colossus Minerals Inc. (TSX:CSI)(OTCQX:COLUF) has reached mineralization in its secondary development. The bulk sample collection process has begun and all material is being assayed and sorted on surface on the stockpile pad. Geologic controls and assaying of material will guide the bulk sampling process which will lead to a shipment of ten to fifteen 300 kilogram samples to Met-Solve Laboratories Inc. in Vancouver, B.C. in January 2013.

The bulk sample location was modified as part of the Company's periodic re-evaluation of mine design. As previously announced, the plan incorporated additional development to provide for improved sample quality. The bulk sample will consist of approximately 30 metres of development through the mineralized deposit to extract approximately 1,500 tonnes of material.

Ground conditions are good and ground water flow into the mine remains manageable. Development of this secondary access point will continue and management expects extraction and sampling of the bulk sample to be complete within the next three weeks.

Claudio Mancuso, Chief Executive Officer commented, "This day has been a long time coming and is the culmination of almost two years of hard work. We are pleased to be entering a mineralized zone. I would like to congratulate all of our employees for achieving this important milestone."

About Colossus:

Colossus is a development-stage mining company focused on bringing its 75% owned Serra Pelada Gold-Platinum-Palladium Project to production. The Serra Pelada Project is a joint venture between Colossus and Cooperativa de Mineração dos Garimpeiros de Serra Pelada ("COOMIGASP") located in the State of Pará, Brazil. Serra Pelada, located in the mineral prolific Carajas region in the State of Pará, Brazil, is host to one of the highest grade gold and platinum group metals deposits in the world. Between 1980 and 1986 Serra Pelada was host to the largest precious metals rush in Latin American history. Colossus Minerals shares, warrants and notes trade on the Toronto Stock Exchange (TSX) under the symbols CSI, CSI.WT.A and CSI.NT respectively and in the United States its Common Shares trade on the OTCQX under the symbol COLUF. The Company is headquartered in Toronto, Canada.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Forward-looking statements in this press release include statements regarding the timing and nature of future exploration and development programs that are dependent on projections that may change as drilling continues, or if unexpected ground conditions are encountered. The Company does not currently have any mineral properties that are in production or that contain a reserve as defined by National Instrument 43-101. In addition, areas of exploration potential are identified which will require additional drilling to determine whether or not they contain similar mineralization to areas that have been explored in more detail. Significant additional drilling is required at Serra Pelada to fully understand system size.

Except for statements of historical fact relating to Colossus, certain statements in this press release relating but not limited to the Company's exploration and development plans, activities and intentions, constitute "forward-looking information" within the meaning of the Securities Act (Ontario) or "forward-looking statements" within the meaning of the United States Private Litigation Reform Act of 1995. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. Forward-looking statements are frequently characterized by words such as "target", "plan", "expect", "project", "intend", believe", "anticipate" and other similar words, or statements that certain events or conditions "appear to", "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The factors include but are not limited to risks related to the joint venture operation, actual results of exploration activities, the inherent risks involved in the exploration and development of mineral properties, changes in project parameters as plans continue to be refined, delays in obtaining government approvals, the uncertainties of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties inherent to conducting business in Brazil and the rest of Latin America, the availability of equipment and supplies, unexpected adverse climate conditions, the reliance on only a few key members of management, as well as those factors discussed in the section entitled "Risk Factors" in the Company's most recent Annual Information Form filed with Canadian provincial securities regulatory authorities and other regulatory filings which are posted on SEDAR at www.sedar.com. Unless required by law, Colossus undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Contact Information:

Colossus Minerals Inc.

Ann Wilkinson

Vice President, Investor Relations

(416) 643-7655

awilkinson@colossusminerals.com

www.colossusminerals.com
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#21486
Re: Colossus ready to begin "sampling" at new mine 1 Year, 3 Months ago Karma: 120
The following is the most recent press release from Colossus


www.colossusminerals.com/English/Investo...1132589/default.aspx

Colossus Minerals Intersects High Grade Gold Values in Diamond Drilling at Elefante
January 10, 2013

TORONTO, ONTARIO--(Marketwire - Jan. 10, 2013) - Colossus Minerals Inc. (TSX:CSI)(OTCQX:COLUF) reports assay results from the recent diamond drilling program on the Elefante area where earlier in the year auger drilling had returned values of gold, platinum and palladium. The Elefante area is located approximately two kilometres to the southeast of the Serra Pelada Gold-Platinum-Palladium Mine. The Serra Pelada Mine is a 75%/25% joint venture between Colossus and Cooperativa de Mineração dos Garimpeiros de Serra Pelada (COOMIGASP) located in the State of Pará, Brazil.

HIGHLIGHTS

Precious metal values are near surface
Possible new exploration target model as the samples containing precious metals lack the strong carbon upgrading associated with the mineralization at the Serra Pelada Mine
Mineralization is currently open in all directions as preliminary four-hole program tested a small proportion of surface anomalies
Hole EL-12-001 contained the highest overall gold value and returned 5.70 metres grading 5.41 g/t gold, 0.04 g/t platinum and 0.29 g/tpalladium
Hole EL-12-002 contained the highest overall platinum and palladium values and returned 5.10 metres grading 0.45 g/t gold, 1.27 g/t platinum and 2.04 g/tpalladium

Claudio Mancuso, CEO of Colossus commented, "We conducted this limited drill program to explore the possibility that mineralization encountered in previous soil and auger sampling programs continue into the bedrock. While we remain focused on development of the Central Mineralized Zone ("CMZ") where we continue progressing well with bulk sample extraction, we are encouraged by these results and anticipate that further exploration could lead to development of a satellite deposit. The area has seen little diamond drilling by Colossus and will be further explored in 2013. We look forward to providing an update on the progression of the bulk sample and other development activities in the next few weeks."

DETAILS

The Elefante area is located approximately two kilometres to the southeast of the Serra Pelada Mine (click the following link to view the accompanying map: file.marketwire.com/release/CSIfig1.pdf). The bedrock in the Elefante Area consists of Archean aged (2.68 billion year old) sediments belonging to the Rio Fresco Formation which also hosts the Serra Pelada orebody.

This release reports assay results for four HQ caliber diamond drill holes totaling 365 metres that were drilled in November and December 2012. The drilling program was a follow-up on encouraging precious metal results that came from an auger drilling program carried out over the Elefante area between January and May 2012 (see press release dated August 20, 2012 for details).

The objective of the diamond drilling program was to verify if the results that were encountered in soil sampling and auger drill hole programs were bedrock sourced. The mechanical auger cannot penetrate bedrock and can only drill to resistance (which usually means it ends in saprolite or the deeply weathered portion of the bedrock which lies just above the fresh bedrock). Auger drilling campaigns that preceded the diamond drilling program managed to outline a low grade (greater than or equal to 1 g/t combined gold + platinum + palladium) anomalous area roughly 200 metres long in an almost east-west direction and approximately 100 metres wide in a north-south direction (see map inset). Within this broad envelope lies a well defined, higher grade isocontour that was the main target of the diamond drilling program which tested an area roughly 25 meters (east-west) by 50 metres (north-south).

All four diamond drill holes returned values of gold, platinum and palladium with hole EL-12-001 returning the highest grade gold values of 12.64 g/t and 6.34 g/t while hole EL-12-002 returned the best overall platinum and palladium results with 1.27 g/t and 2.04 g/t respectively including a 1.25 metre interval that returned 0.07 g/t gold, 3.67 g/t platinum and 5.89 g/tpalladium. These results confirm that mineralization encountered in the soil and auger sampling programs conducted prior to the diamond drilling program continue into bedrock. The Elefante area has seen little drilling by Colossus and will be followed up in 2013.

A complete listing of results can be found in Table 1 below.
TABLE 1: ASSAY RESULTS

Area Drill-hole ID From (m) To

(m) Interval* (m) Gold (g/t) Platinum (g/t) Palladium (g/t)
Elefante EL-12-001 8.10 12.70 4.60 0.08 0.29 1.03
and 17.10 22.80 5.70 5.41 0.04 0.29
Including** 17.10 18.80 1.70 12.64 0.07 0.47
including 18.80 19.80 1.00 6.34 0.02 0.32

Elefante EL-12-002 28.95 34.05 5.10 0.45 1.27 2.04
including 28.95 30.20 1.25 0.07 3.67 5.89

Elefante EL-12-003 35.30 40.50 5.20 0.32 0.78 0.74

Elefante EL-12-004 7.70 12.20 4.50 1.06 0.55 0.77

*Core lengths reported here. Intercepts determined on a 1 g/t (gold+platinum+palladium) cut-off grade for the purpose of this release.
** Less than 50% core recovery.

While minor amounts of carbon have been identified in outcrops during the mapping of the Elefante area and some minor carbon identified during core logging, no significant carbon upgrading similar to that identified with the CMZ at the Serra Pelada Mine could be reported in the Elefante drill holes even though they returned values of gold, platinum and palladium. This indicates that the classic "Burro Preto" zone which is associated to the CMZ at the Serra Pelada Mine may not be the only readily identifiable marker for mineralization in this type of sediment. Once the geology and the occurrence of precious metal mineralization at the Elefante area are better understood, a new exploration target for mineralization on the Serra Pelada property may develop.

The results are currently being interpreted and the immediate focus of the follow-up drilling will be to expand the known zone and define its limits.

Serra Pelada Geology

Gold-platinum-palladium mineralization at Serra Pelada overprints metasediments occupying the hinge of a large fold. The CMZ comprises mainly a steep dipping carbonaceous alteration zone in the fold hinge that also extends onto the upper and lower limbs of the fold for a limited distance. The Lower Limb represents shallow-dipping, gold-platinum-palladium mineralization predominantly associated with an iron oxide rich breccia as well as iron oxide rich argillic alteration and locally carbonaceous alteration on the lower limb of the main fold. The upper limb mineralization is characterized by an iron oxide rich breccia similar to that found in the Lower Limb. The lithologies containing mineralization at the Elefante area do not share the same characteristics or degree of alteration as the typical ore zone at the Serra Pelada Mine and may represent a new target for ore on the property.

Technical Information

Diamond drilling was HQ cored. Sampling of core by Colossus personnel and sample preparation by Intertek Limited, Parauapebas and/or SGS Geosol, Parauapebas, Brazil were carried out under strict protocols recommended in the National Instrument 43-101 Technical Report dated January 31, 2010 on the Serra Pelada Project. After photographing and logging, core sample intervals were cut and/or split in half, yielding samples of various weights depending on the sample length. Where core recoveries were low, intervals were composited to yield approximately one kilogram minimum sample mass. Intertek and SGS Geosol pulverize one or two kilogram splits (>95% passing 106 microns) from the crushed (>95% passing 1.7 mm), dried samples. Duplicates, blanks and certified gold-PGE reference materials were inserted in the sample train by Colossus personnel prior to Intertek preparation work.

The labs insert additional blanks, duplicates and high grade gold/PGE reference materials in the assay stream and replicate or duplicate assays were performed routinely and on most medium- to high-grade materials. Fire assays for gold, platinum and palladium were on 25 gram subsamples utilizing a lead-rich collector material and AA finish.

The Intertek and SGS Geosol assay results for blanks, duplicates, replicates and also all reference materials were well within generally accepted QA/QC measures.

Graham Long, Vice President, Exploration of Colossus, is a qualified person under National Instrument 43-101 and is responsible for this release and has verified the contents disclosed.

About Colossus:

Colossus is a development-stage mining company focused on bringing its 75% owned Serra Pelada Gold-Platinum-Palladium Mine to production. The Serra Pelada Mine is a joint venture between Colossus and Cooperativa de Mineração dos Garimpeiros de Serra Pelada (COOMIGASP) located in the State of Pará, Brazil. Serra Pelada, located in the mineral prolific Carajas region in the State of Pará, Brazil, is host to one of the highest grade gold and platinum group metals deposits in the world. Between 1980 and 1986 Serra Pelada was host to the largest precious metals rush in Latin American history. Colossus Minerals shares, warrants and notes trade on the Toronto Stock Exchange (TSX) under the symbols CSI, CSI.WT.A and CSI.NT respectively and in the United States its Common Shares trade on the OTCQX under the symbol COLUF. The Company is headquartered in Toronto, Canada.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Forward-looking statements in this press release include statements regarding the timing and nature of future exploration and development programs that are dependent on projections that may change as drilling continues, or if unexpected ground conditions are encountered. The Company does not currently have any mineral properties that are in production or that contain a reserve as defined by National Instrument 43-101. In addition, areas of exploration potential are identified which will require additional drilling to determine whether or not they contain similar mineralization to areas that have been explored in more detail. Significant additional drilling is required at Serra Pelada to fully understand system size.

Except for statements of historical fact relating to Colossus, certain statements in this press release relating but not limited to the Company's exploration and development plans, activities and intentions, constitute "forward-looking information" within the meaning of the Securities Act (Ontario) or "forward-looking statements" within the meaning of the United States Private Litigation Reform Act of 1995. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. Forward-looking statements are frequently characterized by words such as "target", "plan", "expect", "project", "intend", believe", "anticipate" and other similar words, or statements that certain events or conditions "appear to", "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The factors include but are not limited to risks related to the joint venture operation, actual results of exploration activities, the inherent risks involved in the exploration and development of mineral properties, changes in project parameters as plans continue to be refined, delays in obtaining government approvals, the uncertainties of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties inherent to conducting business in Brazil and the rest of Latin America, the availability of equipment and supplies, unexpected adverse climate conditions, the reliance on only a few key members of management, as well as those factors discussed in the section entitled "Risk Factors" in the Company's most recent Annual Information Form filed with Canadian provincial securities regulatory authorities and other regulatory filings which are posted on SEDAR at www.sedar.com. Unless required by law, Colossus undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
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#22338
Re: Colossus ready to begin "sampling" at new mine 1 Year, 1 Month ago Karma: 120
My husband and I are long on the stocks we bought, so “I” haven't taken the time to watch them as they continue to trade lower and lower. (My husband, on the other hand, will take the liberty to tell me the “new” price from time to time ) I have however gone on the Colossus Stockhouse blog occasionally to see if the 43-101 has been released.

Although not pleased with the reduced stock price, we are prepared to "wait it out". Recently, while on Stockhouse, a blogger suggested that this is the perfect time for a hostile takeover. Ouch! that would be a real kicker, holding the stock while it loses perhaps 50%, only to find out you must part with it at such an incredibly low price with no opportunity to regain the ground lost.

I understand this is all just one blogger voicing his/her opinion, but I wonder if anyone has ever experienced a hostile takeover. If so, what transpires in such a situation?
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#22341
Re: Colossus ready to begin "sampling" at new mine 1 Year, 1 Month ago Karma: 255
debsyl wrote:
My husband and I are long on the stocks we bought, so “I” haven't taken the time to watch them as they continue to trade lower and lower. (My husband, on the other hand, will take the liberty to tell me the “new” price from time to time ) I have however gone on the Colossus Stockhouse blog occasionally to see if the 43-101 has been released.

Although not pleased with the reduced stock price, we are prepared to "wait it out". Recently, while on Stockhouse, a blogger suggested that this is the perfect time for a hostile takeover. Ouch! that would be a real kicker, holding the stock while it loses perhaps 50%, only to find out you must part with it at such an incredibly low price with no opportunity to regain the ground lost.

I understand this is all just one blogger voicing his/her opinion, but I wonder if anyone has ever experienced a hostile takeover. If so, what transpires in such a situation?



Definitely a very pertinent question Debsyl.

Indeed, the major worry for ANY gold/silver mining company as we go through yet another episode of market-rape is to have some Vulture swoop in on one of our investments while they are sitting at the bottom.

There are a number of factors which make this fear more or less plausible. I'll focus on the factors which make a hostile take-over more probable.

1) A very large (proven) resource. This is about the ONLY thing which gets the attention of the slumbering Seniors. If you've got a BIG resource and your share price collapses, watch out.

2) Large, institutional shareholders (i.e. Traitors). Very often these holders are the proverbial "fair weather friends". When the going gets rough, instead of toughing it out and waiting for a rebound; these Idiots-in-Suits tend to start shopping their Company around to larger miners like some cheap street-walker...and they will vote in favor of ANYTHING which gives them even a small bump in the current valuation.

3) HIGH share valuations in the sector.

So when we look at the particular circumstances of Colossus, it does NOT fit the typical profile for a hostile take-over candidate.

Note something I mentioned before: the Company actually financed itself to production before it even had any formal resource estimate at all. I remarked at the time that this suggested the Company was attempting to be a "sleeper" -- sneaking into production while doing as little as possible to attract attention. This is precisely why a Company would pursue such a strategy, so that in a scenario like the present one it is as UNATTRACTIVE as possible to a potential Vulture: only a (relatively) small proven resource.

Secondly, as far as I know Colossus doesn't have many (if any) large, institutional shareholders -- at least North American ones (Sprott perhaps?). So there are no likely Traitors to INVITE a hostile takeover for this Company.

Thirdly, and here's the funny part: the rocket-scientists running the LARGE CAP miners (the ones most likely to do a hostile take-over) only like to do these deals when THEIR share price is sitting at some medium-term high.

The reason for this is that in the minds of these mental-midgets, this gives them more "buying power" with the SHARES of their own Company -- which always "finance" the majority of these purchases.

The obvious problem (of course) is that if the LARGE CAP miner's shares are at some medium-term high, then likely the whole SECTOR is soaring -- including the target of their take-over. Thus (in actual fact) these take-overs are more likely to occur at the top of the market.



...and then these idiot-CEO's (after buying these companies at the TOP of a market) scratch their heads in puzzlement when they need to WRITE-DOWN the value of the Company they just bought -- when the sector falls back from its high.

Thus as a practical matter, worrying about a "hostile take-over" is a lot like worrying about getting hit by lightning. It does happen to some people, but (in this case) we don't have a lot of reason to worry.



One of these days the idiot-CEO's will actually figure out that they should be doing their shopping at the BOTTOM of the market -- and then we holders in the junior miners will REALLY have something to worry about...

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#22420
Re: Colossus ready to begin "sampling" at new mine 1 Year, 1 Month ago Karma: 255
Here's an article on Colossus (from minesite.com) which includes a somewhat more candid (and encouraging) summary of where the Company is with respect to going into production at Serra Pelada.



[As always, a reminder to newer readers that I hold shares in this one myself]



Colossus Minerals Will Be Producing At Serra Pelada By The End Of The Third Quarter Of This Year

minesite.com/news/colossus-minerals-will...quarter-of-this-year

According to the latest development update at the company’s 75 per cent-owned northern Brazilian gold-platinum-palladium project at Serra Pelada, the commissioning phase for the mine is now “within six months of commencing”.



From now on eyes will be glued to screens, watching for the updates that the company hopes to put out on a monthly basis so that construction and development progress can be tracked.



The production target date is the third quarter of 2013.



“Mobilisation of the site construction team is now advanced”, says president and chief operating officer David Anthony. “All principle materials and resources are in place to enable completion of the process plant and infrastructure projects as scheduled.”



The initial rate of production is planned at 250 tonnes a day (tpd), ramping up by the close of the year to 500 tpd.



Progressing on, the company expects to achieve 1,000 tpd with six to nine active mining faces in the first quarter of 2014. “The current plan for the mine envisages two active faces for 250 tpd of production, three to five for 500 tpd and six to nine mining faces for 1,000 tpd of production,” continues David.



However, Colossus is currently testing different extraction methods to see if it is possible to achieve the target rates with fewer active mining faces.



Serra Pelada is a special project, in many ways. Back in the early 1980s it hosted the largest precious metals rush in Latin America’s history.



In addition to that it has hitherto produced some spectacular grades, including a historic drill hole which averaged 43 metres at 4,709 grams per tonne gold, 104 grams per tonne platinum and 1,174 grams per tonne palladium.



Publication of the 2013 Colossus time-line has brought a blizzard of posted comments from Canadian analysts who have been watching the project developing.



Clarus Securities’ Jamie Spratt welcomed the “slow and steady approach” that management has taken and expects the current on-going bulk sampling programme to confirm “world-class grades and positive metallurgy”. He notes that assays are expected in the first quarter of this year, and that a resource update is due in the second quarter.



At GMP Securities, George Albino has put out a C$11.50 target on the company, which is a good way above the current C$3.52. The current price represents some improvement on last year’s low of C$3.09 but is well down from the C$7.30 high.



And it gets better. In the last note Ron Stewart wrote before leaving broker Dundee Securities, following the results of a first pass geochemical sampling programme, he commented: “We have solid evidence that there could be a number of additional mineralized zones on the property”.



Colossus announced in January that it had intersected high grade gold values on the Elefante area, two kilometres to the southeast of Serra Pelada. The hole that contained the highest overall gold value returned 5.70 metres grading 5.41 grams per tonne gold, 0.04 grams per tonne platinum and 0.29 grams palladium.



“We conducted this limited drill programme to explore the possibility that mineralisation encountered in previous soil and auger sampling programmes continues into the bedrock”, commented Colossus chief executive Claudio Mancuso.



“While we remain focused on development of the Central Mineralised Zone, where we continue progressing well with bulk sample extraction, we are encouraged by these results and anticipate that further exploration could lead to development of a satellite deposit. The area has seen little diamond drilling by Colossus and will be explored further in 2013.”



For now, however, the focus is on the production at Serra Pelada. Dewatering is progressing well from both surface and underground, and the historic pit is now 95 per cent de-watered. Underground water inflow rates remain within expectations.



Everything is going smoothly, so far, on or ahead of schedule. By early February process plant construction was 60 per cent complete, engineering and procurement was 95 per cent completed, 55 per cent of concrete had been poured and structural steel erection was about to commence.



Colossus is funded through to initial production, and had cash of US$101.4 million in the bank as at the end of September 2012.



Back in 2011 it completed a bought deal offering for C$86.25 million gross, issuing debt of CAD$86.25 million in gold-linked notes which notes mature in December 2016 and 5.175 million warrants with an exercise price of C$8.50 and an expiration date of November 8th 2016.



Then last September the company entered into a precious metals streaming agreement with Sandstorm Gold, a TSX listed precious metal financing group, to sell refined gold, platinum and palladium from Serra Pelada.



In return for delivering life-of-mine payable metal equal to 35 per cent of platinum and palladium and 1.5 per cent of gold, Colossus received an up-front deposit of US$75 million. There is a minimum requirement of 260,000 gold-equivalent ounces of payable metals within 48 months of receiving the deposit.



So, there is every reason to agree with Claudio Mancuso when he says that Colossus is in for an “exciting time”. Just watch that screen!
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