GREY:COLUF - Post by User
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guido1077on Apr 30, 2009 7:33am
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Post# 15955347
from our friends at Canaccord
from our friends at CanaccordColossus Minerals* (CSI : TSX : $3.00), Net Change: 0.20, % Change: 7.14%, Volume: 1,698,534
“I’ve known many great men in my life, but only one Colossus. And only now in old do I understand who this force of nature really was.” – Old Ptolemy (Alexander). Shares of Colossus Minerals have been on rails of late. Canaccord Adams Mining Analyst Nicholas Campbell expects drill results to be out anytime over the next week or two. On April 9, Colossus announced 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 drill-out program. At the time, 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. The company’s 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, today is exactly four weeks since April 9, andit appears as though investors are betting that good results will come out any time now. Campbell says that we should see regular drilling news flow from May-forward and drill results will likely be the main driver for the shares in 2009.