Colossus Minerals Inc COLUF

Colossus Minerals Inc is a Canada-based exploration stage company. Principally, it is engaged in the acquisition, exploration, and development of mineral properties. The company's project includes Serra Pelada which is situated in the mineral prolific Carajas region near the towns of Curionopolis and Parauapebas, Para state, northern Brazil.

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Colossus Minerals Inc

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Comment by bob4977on Feb 24, 2013 11:35am

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Post# 21035136

RE: RE: RE: RE: RE: earning outlook $1.63 in 2014

The 43-101 was never done mainly because of costs. They have a resource estimate. It is just so old that it is not 43-101 compliant so they cannot tell us. They decided to skip the PEA and PFS because they would have to redo the 43-101 first. Because of the variability of the grade they needed tightly spaced holes which means lots of drilling. To cut down the costs they waited on the drilling till they had enough of the decline built. You are drilling much shorter holes at that point. They said they were doing a 43-101 soon to support the first year of production. I would imagine they will slowly build that out to have greater certainty as to what they have. I am probably going to pull the trigger again and buy more shares at this level. I am just waiting to see if this is the bottom for gold or we go through one more step down.

Bob

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