Colossus Minerals Inc COLUF

My thoughts on the resource ...

[opeechee8]

As we know the official report was 2 million ounces of Gold dug up in Serra Pelada with an average grade of 15.2 grams per tonne.  Based on this there was 3.7 million tonnes of ore mined by hand.  If we use 28 grams per tonne we are looking at a more likely 3.5 million ounces mined but only 2 million ounces reported mined.  Colossus already told us they expect around 1 ounce per tonne grade for gold and that 1000 TPD would produce around 300,000 ounces per year or 1000 ounces per day approximately.  We also know that only 1/2 the ore was mined in the 350 meter pit or 175 meters of ore so if the CMZ is determined to be 1.2 km long then we are to say only 175 meters of the 1200 meters was taken out (by hand). This represents only 15%.  Which means that the other 85% would be roughly 6 times more than was mined by hand. Somewhere well north of 10 million ounces and maybe closer to 20.  Also the ore was only mined to a depth of 110 meters.  Colossus set out to prove there was more gold below that level and drilled below the pit.  They say there are parallel veins, the Elephante Zone 2 km away and the Coomic mine.