Colossus Minerals Inc COLUF

Averaging Down

[wwadehammer]

My average now is below 4 cents for over 200,000 shares.  Go ahead and laugh if you want, but $380 million has been spent on exploration, permitting, dewatering, preparing air shafts, and building a 1,000 ton per day processing plant.  At some point, the courts will ask for competing bids against the current offer on the table.  I don't  believe that it will cost another $70 million to bring the mine into production but that's just my opinion.  If one of the majors has $150 million to risk, they can pay off the bonds interest, buyout the shareholders at 20 cents a share and bring the mine to full production within two years.  If there's a million ounces recoverable (again IMO, it's closer to 2 million ounces) at $500 an ounce profit, that's $500 million in profits over 10 years on a $150 million investment.  IMO some company will step forward with another offer.  Worth the gamble to me.  Good luck to everyone who owns stock and is not a basher.