RE: RE: RE: RE: RE: RE: RE: Milestones.... Twisted Facts,
"This is a major issue of contention with the "garimpeiros" members of Coomigasp. They have been requesting a gold estimate for years and Colossus has not been forthcoming with any estimates. after all these years of drilling, to come out with a 1 year resource estimate only will be very contentious.
At times I wonder what the agenda of Colossus reallly is. Is it to maximize shareholder's value or is it to screw their partners i.e Coomigasp.
They need to be more forthcoming with information otherwise I expect the rethoric of the Garimpeiros to increase and there is already threats of invading the mine by some.
As an investor I find it very strange that they are in the final stages of building the mine and mill and we have no clue what the anual production of gold will be or the estimated cost of production. This is unique to Colossus in my understanding. WHY ?"
If you do a little research you will find that CSI went about building their mine this way because it was cheaper. I they proved up the resource per 43-101 they would have spent an awful lot of money drilling. They have a lot of non 43-101 compliant drill results to tell them what they have but they cannot publish this data. They found it more cost effective to build the mine and do the drilling from the decline to reduce costs. They simply do not have to drill as far down so it is a lot cheaper. You cannot publish how many oz per year you are planning to produce without a resource estimate as you need to be able to say how many g/t are in the resource. They are targeting a 1000 TPD mining rate so if you assume 10 g/t for the resource estimate you would get 10,000 grams of gold per day and then divide by 34 to get approximately 294 oz gold per day. If they work 5 days per week that would come out to approximately 250 work days per year for a total of 73,500 oz per year (294 x250). If they get 15g/t then the yearly oz would be over 100,000. They are not hiding anything from Coomisgasp or the shareholders. They just need to be able to produce a 43-101 compliant resource estimate to be able to plug in all the numbers.
Bob