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 naeden99on Jan 21, 2014 8:33pm

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Post# 22118352

RE:RE:Arias Resigns

This is a bit harsh. Arias also lost a lot of money on this deal. Things are not guaranteed in the mining business.

Too much water in-flow, combined with a small capital buffer and a terrible financing market sunk this company. If you asked Arias when he put in a lot of money at $0.75 in August when he thought the mine would be in production, he likely would have truthfully though the end of 2013. He put his money where his mouth was and tried to get the mine to production. Unfortunately it didn't happen for shareholders (who had the most leverage to the mine getting into production and ultimately the most downside).

When you invest in a mining company, especially a pre-production one, you are taking the execution risk. This is the one that failed. You can't go around blaming everyone but yourself for taking that risk that didn't work out.

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