GREY:COLUF - Post by User
Post by
drdiabloon May 03, 2010 3:05pm
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Post# 17057308
New resource category: Invented & Imagined
New resource category: Invented & ImaginedColossus seems to be inspiring some feverish dreams amongst its shareholders. As I scroll back through the posts, I find resource estimates as high as 34 million ozs. The highest imagined SP is $100.
In addition to Proven & Probable, Measured & Indicated, and Inferred, there should be a resource category called Imagined & Invented, and companies should be allowed to include it in their resource estimates. In a way, it's the most important category of all, since these visions inspire two-handed buying.
I'm going on the record here as calling for a split-adjusted SP of $150 and a resource, with credits for other metals, of 70 million ozs of gold. This thing could be bigger than Bre-X! Well, bad example perhaps, but you see my point.
I do hope no one gets too carried away with their buying. If this thing were called Colossus Uranium, the bid would be .10, and the Company would be issuing 10 million shares at a time--plus warrants of course--to stay afloat. The same thing could happen to the gold sector, as it has in the past.
Well, enough of bashing my largest long position. I will add that I do not favor a near-term buyout. Given the exploration potential of the property, I hope Ari swings for the fences.