Colossus Minerals Inc COLUF

nice morning note from Canaccord

[guido1077]

Colossus Minerals* (CSI : TSX : $2.58), Net Change: 0.13, % Change: 5.31%, Volume: 402,826

Colossal anticipation? Investors continued to pile into shares of Colossus Minerals yesterday. Could drill results be coming very soon? At last check, Colossus announced April 9 that it has accelerated its development plans for the Serra Pelada gold platinum-palladium project in Brazil. Colossus said it now has three diamond rigs on the property operating on its Phase II drillout program. As of April 9, five holes of diamond coring had been completed with three more holes in progress. Colossus management stated that all completed holes appeared to have intersected mineralisation and had been logged and sampled for

assaying. CEO and Chairman Ari Sussman said, “Facilitated by the company’s recent financing, Colossus is positioned and is putting additional systems in place to advance the Serra Pelada project to Final Exploration Report stage before end 2009, ahead of schedule.” As of April 9, Sussman expected to see another set of assay results in the next 2-4 weeks. Well, yesterday was exactly two weeks since April 9, and it appears as though investors are betting that good results will come out any time now.  Canaccord Adams Mining Analyst Nicholas Campbell says we should see regular drilling news flow from May-forward and drill results will likely be the main driver for the shares in 2009.