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Colossus Minerals Inc COLUF

Consumer Cyclical Healthcare Metals & Mining Biotechnology Gold
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.


GREY:COLUF - Post by User

Colossus Minerals Inc
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Comment by naeden99on Apr 13, 2014 1:28pm
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Post# 22445322

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:What Happened InTwo Days

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:What Happened InTwo DaysI understood that the change from 50/50 to 75/25 was an earn in that CSI had for spending money exploring.  Funny how those terms never made it back to the politicians.

Pursuant to the original agreement between Colossus and Coomigasp dated July 16, 2007, Colossus has the right to earn up to a 75% interest in the joint venture company, which operate the Serra Pelada Project, by spending R $18.0 million (US $10.6 million) on exploration and development of the Serra Pelada Project. In addition to earn its interest, Colossus is required to make staged premium payments to Coomigasp based on the mineable gold reserve proven by exploration work accepted by the Brazilian National Department of Mines in the Plano de Aproveitamento Economico.

 
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