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 WeKnowEnergyon Dec 18, 2013 3:56pm

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Post# 22019780

RE:What's In It For the Bondholders?

Hey Wade,

Accounts payable rank below the bondholders.

There is $10mn secured by SAND, then $150mn unsecured between noteholders/SAND

So under your scenario of $105mn: noteholders get $53.83mn assuming no DIP financing or further senior credit (limited by note indenture anyways). $53.83/$85 = 0.63 cents on the dollar plus accrued interest.

And yes I'm long the notes.

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