Colossus Minerals Inc (COLUF)

[Tommy]

$COLUF - $CSI.V - Colossus Minerals Names David Massola as New Chief Financial Officer

http://colossusminerals.com/media/Press-Releases/Press-Release-Details/2013/Colossus-Minerals-Names-David-Massola-as-New-Chief-Financial-Officer/default.aspx

TORONTO, ONTARIO--(Marketwired - Oct. 16, 2013) - Colossus Minerals Inc. (the "Company" or "Colossus") (TSX:CSI)(OTCQX:COLUF) today announced that David Massola has been appointed the Company's Chief Financial Officer and Executive Vice President effective October 21, 2013.

Mr. Massola has over 30 years of experience in the mining industry and has held a broad range of executive and management positions in Canada, Chile and the United States. Mr. Massola was President and Chief Executive Officer of Continental Nickel Limited from 2011 until it was acquired by IMX Resources Limited in 2012. Mr. Massola served as Chief Financial Officer and Senior Vice President of Globestar Mining Corp. from 2006 until it was acquired by Perilya Limited in 2011. Prior to joining GlobeStar, Mr. Massola served as Chief Financial Officer and Vice President of De Beers Canada, Inc. from 2001 to 2006, where his responsibilities included arranging debt facilities and the implementation of all accounting systems and financial controls for the Victor and Snap Lake mines. Prior to joining De Beers, Mr. Massola spent 20 years at BHP-Billiton where his roles included the position of Vice President of Finance at BHP Diamonds Inc. where he was responsible for all financial aspects of the Ekati Diamond Mine from the construction period through commercial production. Mr. Massola holds a BSc degree in Accounting from the University of California.

Mr. Massola succeeds Alden Greenhouse who will be leaving the Company to pursue other opportunities. Mr. Greenhouse will remain with the Company to assist Mr. Massola during a brief transition period. Colossus wishes to thank Mr. Greenhouse for his service and contributions to the Company.

Colossus also announced that Gregory Ho Yuen has been appointed the Company's Vice President, Legal and Corporate Secretary.

About Colossus:

Colossus is a development-stage mining company focused on bringing its 75% owned Serra Pelada gold-platinum-palladium Mine into production. The Serra Pelada Mine is a joint venture between Colossus and COOMIGASP located in the State of Pará, Brazil. Serra Pelada, located in the mineral prolific Carajas region in the State of Pará, is host to one of the highest grade gold and platinum group metals deposits in the world. Between 1980 and 1986 Serra Pelada was host to the largest precious metals rush in Latin American history. Colossus Minerals Common Shares, warrants and notes trade on the Toronto Stock Exchange (TSX) under the symbols CSI, CSI.WT.A, CSI.WT.B and CSI.NT respectively and in the United States its Common Shares trade on the OTCQX under the symbol COLUF. The Company is headquartered in Toronto, Canada.

[Tommy]

$COLUF - $CSI.V - Colossus Minerals Provides Development Update

http://www.colossusminerals.com/media/Press-Releases/Press-Release-Details/2013/Colossus-Minerals-Provides-Development-Update-9232013/default.aspx

..."TORONTO, ONTARIO--(Marketwired - Sept. 23, 2013) - Colossus Minerals Inc. (the "Company" or "Colossus") (TSX:CSI)(OTCQX:COLUF) provides a development update for its 75% owned Serra Pelada gold-platinum-palladium Mine. The Serra Pelada Mine is a joint venture between Colossus and Cooperativa de Mineração dos Garimpeiros de Serra Pelada ("COOMIGASP") located in the State of Pará, Brazil.

HIGHLIGHTS

The Company is on track with its dewatering program expansion. As of September 17, 2013, six of the originally planned ten wells are pumping and total dewatering output is approximately 800 m3 per hour. Currently, total output exceeds the recharge rate by approximately 75% and total output is expected to reach approximately 1,500 m3 per hour by December 2013.

Underground development has progressed according to the plan detailed in the Company's July 15, 2013 press release. In August, the Company advanced on four separate development faces achieving advance in the main decline, ventilation access drift, the north access and a permanent pumping station. The Company achieved 85 metres of development in August over 24 days resulting in an advance rate in excess of 3.5 metres per day. According to plan, the Company stopped development for a period of 7 days to complete the first phase of the ventilation system expansion.

The Company plans to continue the decline development to have multiple access drives ready for mining in 2014. Five access drives will be developed to commence feeding the process plant late in the fourth quarter of 2013. Commissioning of individual unit operations commenced in August and will continue throughout September and early into the fourth quarter.

The bulk sample will be processed once management is satisfied with process plant operating effectiveness.

The first phase of ventilation expansion is complete. The second phase of the expansion is 55% complete with shaft sinking progressing well.

Tailings dam construction is progressing well with 85% of the project complete to date. The tailings dam is expected to be complete ahead of process plant start-up.

Claudio Mancuso, Chief Executive Officer commented, "After the setback related to dewatering experienced in July, the Company's dewatering and underground development activities are progressing according to the remediation plan communicated in mid-July. Completion of the first phase of the ventilation system expansion provides a four-fold increase in underground airflow and allows us to begin ramping up development with increased manpower and equipment in September. The underground team achieved development on four separate faces in August and we remain on track to have five access drives ready to enter the Central Mineralized Zone in December." " ...

[Tommy]

$COLUF - $CSI.V - corporate presentation

http://www.colossusminerals.com/files/doc_presentations/CSI%20corporate%20presentation%20September%20DGF%20Final.pdf

[Tommy]

$COLUF - $CSI.V - An In-Depth Analysis: The Strange Case Of Colossus Minerals

http://seekingalpha.com/article/1661222-an-in-depth-analysis-the-strange-case-of-colossus-minerals?source=email_investing_ideas&ifp=0

[Tommy]

$COLUF - $CSI.V - The Colossus Has Fallen: Why I Believe It Will Get Back Up

http://seekingalpha.com/article/1641412-the-colossus-has-fallen-why-i-believe-it-will-get-back-up?source=email_portfolio&ifp=0

In a previous article "2 Brazilian Gold Miners with Enormous Upside" I argued that Colossus Minerals (COLUF.PK), along with Luna Gold (LGCUF.PK), are two gold (GLD) mining companies that offer investors a very attractive risk vs. reward scenario at present prices. Please view that article for a more in-depth analysis of Colossus if you are unfamiliar with the company.

Here is a brief description of Colossus:

"Colossus Minerals Inc., a development stage mining and exploration company, primarily holds a 75% interest in the Serra Pelada Mine, a gold-platinum-palladium project, which covers an area of approximately 100 hectares and is located in Pará, Brazil. Colossus Minerals Inc. was founded in 2006 and is headquartered in Toronto, Canada."

Serra Pelada was host to the largest ever gold rush in Latin America history in the 1980s. Roughly 80,000 artisanal miners produced 2 million ounces of gold, platinum and palladium - from a hand dug open pit.

Since 2007, Colossus has worked hard in getting the Serra Pelada mine back into production. This mine is expected to be one of the lowest cost gold mines in the world.

Unfortunately, almost immediately after writing the Brazilian gold miners article, Colossus reported the following issues at its Serra Pelada project in a July 15 news release:

Mining has progressed through the CMZ with both water and ground conditions being managed. However, recently some dewatering wells and pumps have not performed to design specifications. As a result, the Company has determined that additional dewatering capacity, which is currently being brought online, is required to mine the CMZ in a sustainable, effective and efficient manner.

As a result, mining activity through the Central Mineralized Zone ("CMZ") has been delayed and resources have been re-deployed to focus on infrastructure development and additional dewatering in order to keep the Company's plans of achieving 1,000 tonnes per day ("tpd") in the first quarter of 2014 intact. Infrastructure development in the red and gray siltstone is not impacted.

The Company now anticipates a delay in gold production from the mine until late in the fourth quarter of 2013.

This is a common issue when bringing mines into production and I don't believe it will be a lingering issue for the company, in my opinion.

It was uncertain how much money the company would need to fix this issue and if it would even be able to come up with the funds. This doubt combined with a truly unforgiving market resulted in a 50 percent haircut in the share price.

You'll see that the price went from $1.50 to $.80 cents or so and then as low as .60 cents. It appears that this was a great buying opportunity with the share price recently recovering, as you'll see below.

(click to enlarge)

Credit: StockCharts.comInvestors like myself are in this company for the long-haul and believe that it will produce a substantial amount of cash flow for many years to come. I believe this water issue was just a small speed bump on the way to getting there.

So what has changed with Colossus?

- The company was in fact able to raise the money needed: it announced a financing and just recently closed that financing for proceeds of $37,950,000:

"The net proceeds of the Offering are intended to be used to fund development expenditures at the Serra Pelada gold-PGM project including the completion of the process plant, to fund operating losses up to and including production ramp-up, and for working capital and for general corporate purposes."

According to CanadianInsider.com, Director Alberto Arias purchased 9.93 million shares and 5 million warrants in the public market on August 15 (however it's likely he participated in the private placement, although that was not disclosed in the releases).

(click to enlarge)Credit: CanadianInsider.com

- Shares outstanding: After the financing, the company now has 166 million shares outstanding and nearly 200 million fully diluted. What this means is that there is less upside going forward.

I previously thought the company had the potential to be a $8 stock in a few years at best case, which would have given the company a market cap of $976 million at the previous share count.

With 166 million shares outstanding after the financing, a share price of about $5.80 would equal the same market cap.

- On the bright side, it's not like the company is just giving away shares for free - this recent financing netted Colossus $37.9 million. I believe this puts the company well on track to complete construction and will allow it to achieve 1,000 TPD commercial production in the first quarter of 2014.

- At a current share price of .84 cents and 166 million shares outstanding the company has a market cap of $139 million. After the financing, it roughly has that in cash which the majority of will be used to complete the development of Serra Pelada.

- I believe it also makes it more likely that Colossus will buy back half of the precious metals stream with Sandstorm Gold (SAND).

I had previously speculated that the money Colossus needed could come from Sandstorm, potentially increasing the size of the gold stream for more money. However, this was not the case as it opted for an equity raise. Here are the details on the stream with Sandstorm.

"Sandstorm has a precious metals stream agreement to purchase 1.5% of the gold and 35% of the platinum produced from Serra Pelada at a per ounce price of US$400 per ounce of gold and US$200 per ounce of platinum. Sandstorm made an upfront payment of US$60 million to acquire the stream in September 2012.

Until April 1, 2015, Colossus has the option to repurchase up to 50% of the agreement by making a US$48.75 million payment to Sandstorm Gold, upon receipt of which, the percentage of gold and platinum that Sandstorm is entitled to purchase shall be decreased to 0.75% and 17.5% respectively."

If it successfully completes construction and gets into production in 1Q 2014 without any major problems, I believe the company should be able to bring in enough cash flow to pay off half of the stream by that date.

Still Some Risks

I said it in a previous article and I'll say it again - investing in this company is a great way to gain leverage to the price of gold (along with platinum and palladium) but with that leverage comes some risks.

- The company is going to have to regain the trust of many shareholders, especially those who got in around $1.60 before the news was announced.

- There are other risks associated with bringing a precious metals mine into production. If you follow this sector, you'll know that there are plenty and many things can go wrong when bringing a mine into production.

- The risk of owning a stock that operates a single mine. I own several stocks that fit this description but I like each company enough and believe in its operations to take on this risk.

- No resource estimate. This is not common for a mining company to bring a deposit into production without having any NI 43-101 resource. However, this Serra Pelada deposit is not your average project as it is a past-producing mine with super-high grades.

So, the question is, is Colossus still worth the risk?

At my age, it's a risk I'm willing to take. If you are someone who doesn't want the risk, I would recommend other gold miners that have multiple producing mines and a solid balance sheet with little debt.

For me, I still believe the risk is worth the reward for Colossus and I will continue to buy shares on any dips. The amount of platinum ($1,500 an ounce) and palladium ($700+ an ounce) produced from this mine will be quite significant, leading to a super low-cost operation.

[linie]

Colossus Minerals its so still...

GO GREEN ...

[Tommy]

$COLUF - $CSI.V - Colossus Minerals Inc. Announces C$33 Million Equity Financing

http://www.colossusminerals.com/media/Press-Releases/Press-Release-Details/2013/Colossus-Minerals-Inc-Announces-C33-Million-Equity-Financing/default.aspx

TORONTO, ONTARIO--(Marketwired - July 24, 2013) - Colossus Minerals Inc. (TSX:CSI)(OTCQX:COLUF) (the "Company" or "Colossus") is pleased to announce that in connection with its previously announced overnight marketed public offering (the "Offering") of equity securities, it has today entered into an underwriting agreement between the Company and a syndicate of underwriters co-led by GMP Securities L.P. ("GMP"), and Dundee Securities Ltd. (together with GMP, the "Co-Lead Underwriters"), together with Canaccord Genuity Corp., Clarus Securities Inc., and TD Securities Inc. (together with the Co-Lead Underwriters, the "Underwriters") to sell 44,000,000 units (the "Units") of the Company at a price of $0.75 per Unit for aggregate gross proceeds of C$33,000,000. Each Unit consists of one common share ("Unit Share") and one half of a common share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder thereof to purchase one common share of the Company ("Warrant Share") at a price of $0.90 per Warrant Share at any time prior to 5:00 p.m. (Toronto time) on or before the date that is 24 months from the closing date of the Offering ("Closing Date"). The Warrants will be governed by a warrant indenture that provides for, among other things, standard anti-dilution provisions and other terms and conditions customary for such agreements.

In addition, the Company has granted the Underwriters an over-allotment option (the "Over-Allotment Option"), exercisable in whole or in part at the sole discretion of the Underwriters for a period of 30 days from and including the Closing Date, to purchase additional Unit Shares and/or Warrants, such number of additional Unit Shares and/or Warrants not to exceed 15% of the aggregate number of Unit Shares and Warrants sold on the Closing Date pursuant to the Offering.

The Units will be offered by way of a short form prospectus to be filed in all of the provinces of Canada, except Quebec. The short form prospectus will also qualify the grant of the Over-Allotment Option and the distribution of the Over-Allotment Securities.

The net proceeds of the Offering are intended to be used to fund development expenditures at the Serra Pelada gold-PGM project including the completion of the process plant, to fund operating losses up to and including production ramp-up, to fund the costs associated with increasing the capacity of its dewatering system, and for working capital and for general corporate purposes.

The Offering is expected to close on or about August 13, 2013 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Colossus Minerals Inc. (TSX:CSI)

Colossus is a development-stage mining company focused on bringing its 75% owned Serra Pelada Gold-Platinum-Palladium Mine to production. The Serra Pelada Mine is a joint venture between Colossus and Cooperativa de Mineração dos Garimpeiros de Serra Pelada (COOMIGASP) located in the State of Pará, Brazil. Serra Pelada, located in the mineral prolific Carajas region in the State of Pará, Brazil, is host to one of the highest grade gold and platinum group metals deposits in the world. Between 1980 and 1986 Serra Pelada was host to the largest precious metals rush in Latin American history. Colossus Minerals shares, warrants and notes trade on the Toronto Stock Exchange (TSX) under the symbols CSI, CSI.WT.A and CSI.NT respectively and in the United States its Common Shares trade on the OTCQX under the symbol COLUF. The Company is headquartered in Toronto, Canada.

[Tommy]

$COLUF - $CSI.V - Serra Pelada Building Brazil’s Next Gold Mine

http://colossus2013-int.q4web.com/files/doc_presentations/CSI%20corporate%20presentation%20July%2018_v001_k23446.pdf

[Tommy]

$COLUF - $CSI.V - Colossus Minerals Intersects Gold and Copper in its Phase 1 Drilling Program on the Cutia Property

http://finance.yahoo.com/news/colossus-minerals-intersects-gold-copper-100100034.html

TORONTO, ONTARIO--(Marketwired - July 8, 2013) - Colossus Minerals Inc. (the "Company" or "Colossus") (CSI.TO)(COLUF) announces assay results from its Phase I surface diamond drilling program on its 75% owned Cutia Project. The Cutia Project is a 75-25% joint venture between Colossus Minerals Inc. and Cooperativa Mista Do Garimpo De Cutia (COOMIC). The Cutia Project is located in the State of Pará, Brazil roughly 13 kilometres southeast of the Serra Pelada Mine infrastructure.

HIGHLIGHTS

CTA-13-003 intersected 2.35 g/t gold, 0.32 g/t silver and 0.26% copper over 5.98 metres in the main silicified breccia zone and intersected material in the historic underground workings immediately above the zone that returned 7.67 g/t gold, 0.52 g/t silver and 0.24% copper over 5.20 metres that included values of 10.9 and 20.10 g/t gold and as much as 1.02% copper. This material is presumed to be an example of what would have been mined out by the garimpeiros and demonstrates the potential of the mineralized system.

CTA-13-005 intersected 9.58 g/t gold, 1.40 g/t silver and 0.41% copper over 1.00 metre in the hanging wall portion of the main zone before the hole intersected historic underground workings. The underground drift material recovered from this area returned assays of 8.96 g/t gold, 1.28 g/t silver and 0.33% copper over a 1.60 metre interval which included a sample that assayed 17.54 g/t gold, 2.20 g/t silver and 0.28% copper.

CTA-13-009 intersected the silicified breccia zone and returned 7.18 g/t gold, 25.09 g/t silver and 2.61% copper over 5.35 metres including a high grade interval that assayed 20.69 g/t gold, 223.00 g/t silver and 18.47% copper over a 0.35 metre core length.

CTA-13-016 intersected a 0.55 metre long silicified breccia zone containing 13.76 g/t gold, 3.90 g/t silver and 2.04% copper, representing the Cutia Fault Zone (CFZ) underneath the west pit.

CTA-13-018 intersected the zone and returned 3.91 g/t gold, 4.01 g/t silver and 0.76% copper over a 3.25 metre core length.

Claudio Mancuso, CEO of Colossus commented, "While still early the Cutia Project is shaping up to be quite an exciting exploration property."

[Tommy]

$COLUF - $CSI.V - Colossus Minerals: The Small-Cap Gold Miner That Will Soon Be A Cash Cow

http://seekingalpha.com/article/1518002-colossus-minerals-the-small-cap-gold-miner-that-will-soon-be-a-cash-cow?source=email_rt_article_readmore

Regarding the title of this article, the company discussed will become one of the premier Tier III producers in 2014. Although this will be a multi part series focusing on small caps which are loaded with potentially explosive returns, this article focuses on Colossus Minerals (COLUF.PK) . This could easily become a 5-10 bagger in 2-3 years. In fact, its high while just an exploration company was 6-fold higher. To boot it is currently in the sweet spot of the mining life cycle, reaching production in just 2 months.

(click to enlarge)

Colossus Minerals ~ Colossus is a Canadian-based exploration and development company. Its primary focus is to advance the Serra Pelada Project, located in Para, Brazil, into production. Serra Pelada is host to one of the highest grade gold and platinum group deposits in the world. It was also host to the largest gold rush in Latin American history. Cash costs or All-in costs Cash costs would be extremely low to begin with given the high grade gold (reserve estimate to be released Q3), however, based on analyst consensus estimates will be 19-21 g/t . Here's the catch; as opposed to most mining companies have base metal byproduct, which serve as credits against cash costs, Colossus has platinum and palladium. Platinum is projected to have an average of grade of 4-4.5 g/t and palladium at 8-12 g/t.

This will cause cash costs (net of byproducts) to be between $180-$200/oz, with the all In costs estimated at $500-$550/oz. This is exceptional given the average all in cost for the industry (per our current study) is between $1,050 - $1,200. Colossus helped finance Serra Pelada development through one recent equity issuance and the sale of streams on the 3 metals it will produce. (Keep in mind, Colossus has until April 2015 to buy back half of every stream from $58.5m). A 35% stream on platinum and palladium was sold to Sandstorm as well as a 1.5% stream on all the gold produced.

Furthermore, Colossus has identified several satellite deposits outside the CMZ (Central Mineralized Zone), including the WMZ, Portal Zone and the Elephante area. Colossus's exploration plans for 2014 will focus on two things; first will be focusing on the Elephante area as diamond drilling suggests a near surface, broad halo of mineralization. If this is successful and Colossus can define the mineralized area, it would pave the way to expand the current 1,000 tpd mill, thereby increasing production. The second is its high grade Ag-Au silver deposit, Cutia, which like Serra Pelada was a previously producing mine. There are 3 meter thick quartz veins outcropping on surface. If Colossus can define the mineralized zone(s), it could have Cutia up and running as early as late 2016 - late 2017. This would create one of the most interesting precious metals mining company as it would have all four of the primary metals.

Serra Pelada; During Latin American Gold Rush in 1983

(click to enlarge)

The following chart illustrates Colossus' base case production scenario. By that, I'm talking about Cutia being excluded if it did reach production in 2016 as well as no satellite deposits deemed economical and in turn, no mill expansion. (Keep in mind, this is not AuEq oz.'s due to the palladium production, instead by 2015, AuEq production will be 300k oz.'s. This must be reduced to just gold production in order to achieve its very low cash cost and all in cost profile.

(click to enlarge)

Conclusion: This is a perfect stock to own in this or any environment due to several factors. An incredibly storied management (following valuation) with years of success all around makes this company poised for success. Its low cash cost and all in cost profile should earn it a premium relative to the industry, similar to the premium New Gold has had for quite some time. A premium could also be given as it will be one of the highest grade gold mines in the world and quite possibly the highest AuEq grade mine in the world (we will see in Q3) The exploration potential is immense both at Serra Pelada and at Cutia. The following are some example of Bonanza grade intercepts:

(click to enlarge)

VALUATION: NAV, NAV Multiple

VALUATION: DISCOUNTED CASH FLOW

(click to enlarge)

MANAGEMENT

Claudio Mancuso [CEO] - Mr. Mancuso has over 10 years' experience in the mining industry and capital markets. Prior to joining Colossus, he served as Vice President, Treasurer of Agnico-Eagle Mines Limited, a position he held since January 2009. Prior to that appointment, he served Agnico-Eagle in various financial management positions. Prior to joining Agnico-Eagle in 2002, he held positions at the Ontario Securities Commission and BDO Dunwoody LLP, a public accounting firm. Mr. Mancuso is a graduate of the University of Waterloo and is a Chartered Accountant.

Paulo Fagundas [COO] - Mr. Fagundes has 30 years experience in the mining industry and brings strong operating experience specifically in South American mining projects. Mr. Fagundes was most recently General Manager of the Mercedes Mine in Mexico for Yamana Desenvolvimento Mineral Ltda. where he was responsible for the development of the underground gold mine, and from 2007 to 2009 he was General Manager of Yamana's San Andres Mine in Honduras where he was responsible for operations, administration and a successful expansion of the project. He previously held senior operating positions with Camargo Correa Group, a Brazilian conglomerate and Companhia Brasileira do Cobre, a Brazilian mining company, where he was Manager of the Sao Luiz underground mine. Mr. Fagundes graduated from Universidade Federal do Rio Grande do Sul in 1981 with a Bachelor of Science in Mining Engineering, and from Universidade de São Paulo in 1999 with an MBA in Business Management -Human Resources. Mr. Fagundes is fluent in Portuguese, Spanish and English.

Other large roles such as the VP of exploration and VP of finance have spent time as Agnico-eagle mines and New Gold. To boot, the BOD is filled will many who have been successful at companies such as Kinross, Auralian and Barrick.

[Tommy]

$COLUF - $CSI.V - The Colossus Is Twitching

http://seekingalpha.com/article/1515172-the-colossus-is-twitching?source=email_investing_ideas&ifp=0

The greatest gold rush in South America took place in northern Brazil in the 1980s at a place called Serra Pelada. About 80,000 artisan miners, or garimpeiros, flocked to the area and dug a hole 400m by 300m across and 120m deep. Apparently about 2M ounces of gold were pulled from the earth during a 10 year period. Some got rich, most didn't. A highly entertaining documentary was made about this time and place which is free to view here (wait, read on and watch later). Brazilian mining giant Vale (VALE) held the formal title and explored the area until February 2007. Then COOMINGASP, a local cooperative company, was granted the exploration license for the area surrounding the historic pit.

(click to enlarge)

(photo taken from company web site)

Colossus Minerals (COLUF.PK) entered the scene by signing a joint venture agreement with COOMINGASP only a few months after the cooperative took control of Serra Pelada. Colossus Minerals is earning its share of the project by financing exploration and mine development capex. Furthermore, Colossus is making monthly payments of around $175,000 to COOMINGASP until start of production, after which COOMINGASP is entitled to a royalty of 1.3% to 2.1% of precious metal sales depending on production. Further exploration licenses were added over time covering the surrounding area with numerous interesting near mine and regional exploration targets already identified.

Reported grades from various drill core assays include some truly spectacular results in the double digits g/t for all three present precious metals - gold, platinum and palladium - over significant lengths. The geology of the area is complex. Gold-platinum-palladium mineralization has been traced to depths of up to 350m under the southern end of the historic pit and remains open along strike. Colossus is currently developing an underground mine to access what has been termed the Central Mineralized Zone (CMZ). Difficult ground conditions in combination with ground water had been a concern but turned out to be better than expected allowing for ongoing optimization of intended mining methods. Additional mineralization has been encountered during underground exploration from the decline suggesting a lower grade halo around the CMZ. A bulk sample has been extracted and will be processed on site as soon as the plant is functional. The technical challenges of building this mine are not to be underestimated, but so far construction has been executed with great precision.

Gold is presently under a great deal of pressure and the spot price has been correcting for over a year and a half. The present spot price of $1,300 seems a long way from the tops of $1,900+ and gold investor sentiment is shot to pieces. Platinum and palladium are also precious metals and attract increasing investment interest. Additionally, these two metals also have industrial applications especially in the car industry. Moreover, almost 80% of world supply of platinum and palladium is produced in South African mines. These mines are facing some serious challenges as is evidenced by numerous news reports during past months. Analysts such as Peter Hug of kitco.com have become very bullish on platinum and palladium recently based on the assumption of an upcoming supply squeeze. We view the platinum and palladium concentrate to be produced at Serra Pelada as a very attractive hedge against the gold correction turning into a proper bear market.

(click to enlarge)

An unusual decision was taken by the company to develop this mine without prior preparation of a NI 43-101 compliant reserve statement. The nature of the mineralization at Serra Pelada creates significant uncertainties with reporting to this standard and release of a NI 43-101 report has been postponed to later this year when sufficiently closely spaced drill data from underground exploration will be available, and results from the bulk sample can be incorporated. For potential investors this represents an additional risk. However, it did not stop Sandstorm Gold (SAND) to participate in the financing of the mine by providing $60M of upfront cash toward mine development in exchange for a streaming agreement that will allow them to purchase 15% of the gold production for $400 per ounce, and 35% of the platinum for $200 per ounce. Sibling company Sandstorm Metals & Energy (STTYF.PK) paid $15M upfront in exchange for 35% of the palladium production at $100 per ounce. It can be assumed that the Sandstorms performed significant due diligence before committing to this so-called streaming arrangement which could also be taken as some re-assurance by interested investors. Colossus has the right to buy back half of the precious metal stream until April 1, 2015, at a total cost of $58.5M to the two Sandstorms.

Colossus Minerals have been very forthcoming in reporting on mine development and has been releasing detailed monthly updates. The latest instalment on June 18 made for very interesting and encouraging reading once again. Construction is 85% complete and the company confirmed that the project is still on track for first production at an initial rate of 250 tpd in the third quarter this year. Production is scheduled to ramp up to 1000 tpd by Q1 2014. The decline has reached the CMZ and 2,500 tonnes of material have already been stockpiled on the ROM pad. Construction of the plant is on track for commissioning in the third quarter. The plant will process gold first, followed by PGM flotation a year later in Q3/2014. Serra Pelada is fully licensed and well serviced with roads, water and power and also has access to skilled local labor.

(click to enlarge)

Brazil is a mining friendly jurisdiction with a modern mining code, welcoming to foreign investment and a stable political and fiscal system. It's the sixth-largest economy world-wide and the undisputed economic power house in South America. Inflation has been high and increasing which warrants close monitoring. There are a number of operating gold mines in Brazil including the Aurizona mine by Luna Gold (LGCUF.PK), several mines operated by Yamana Gold (AUY) or operations by the local mining giant Vale.

Colossus is a development company. The company has gone through a speculative exploration phase during which the share price has soared to $9 and above. Such exuberance is typical for exploration companies with promising projects, and it is often followed by a drop when reality settles in with the concrete necessities of financing and mine development. Brent Cook of explorationinsights.com calls the bottom in the share price that is often associated with this development phase the "orphan period." This is exactly where we find Colossus Minerals at the moment. Consider the diagram below for an illustration of where Colossus Minerals may be heading if it managed to bring the Serra Pelada mine into production.


(taken from explorationinsights.com)

Colossus Minerals presently has a market capitalization of $138M with 125M outstanding shares (139M fully diluted) trading at multi-year lows of $1.29 at the time of writing. Institutions own about 62% of the company and insiders about 13% - there has been some heavy insider buying very recently. The company just raised $28.75M in a bought deal which should be sufficient to get to production with some contingency to spare. The shares issued in this offering are not yet considered on Yahoo.com or other trading information platforms. Furthermore, the company has $75M worth of unsecured notes trading on the Toronto stock exchange under the ticker CSI.NT maturing December 2016. Each note has a face value of $1,000 and has 60 warrants with an exercise price of $8.50 each attached to it. Interest depends on the gold price and varies between 6% and 13%. These notes are currently trading at just under C$70.00.

(click to enlarge)

The share price has been locked in a downtrend since April 2011 as evidenced by the weekly chart above. There are various weak support levels below the present share price, but from a technical perspective the trend might continue and test strong support at $0.34 later in the year. From a chart perspective this would be a healthy move since it would fill a few gaps that have remained open from 2009.

Finishing up we would like to present our present investment thesis for Colossus Minerals. This stock represents a very high risk/reward opportunity with the company presently in a very vulnerable position. The project is a high risk undertaking and even though execution has been managed in an exemplary manner there are still many risks that could manifest themselves before the mine will go into production and a NI 43-101 reserve will be presented. Investors interested in this company need a very high risk tolerance, but looking at the potential of this project we believe that rewards could be handsome. Catalysts to turn around the downtrend and put an end to the orphan phase are coming up later in the year giving interested parties ample time to research and monitor Colossus Minerals over the coming weeks and months.

[wshaw14]

Thanks gharma I respect your thoughts and will do some dd.

[gharma]

I can't really provide much DD that you will not run one with google and the company website (has some good mapping, etc. probably to try to counter their unconventional path to production).
However, I will say that insider activity looks pretty ugly. Not really any open market buying, at least now since it was half to one and a half bucks, and a lot of selling of shares from cheap options back when CSI peaked 7-8, but not much selling after that.
Relatively small O/S for having so much already done by way of cap ex, and yes, there is debt and stream (some of the notes trade on the exchanges)
But, that is balanced against what appears to be some very rich veins and cooperative agreement with the locals profiting.

[wshaw14]

Yes, nice dip. I did a fairly quick in and out for a few shares for about 7.5%. I have not done enough DD to do otherwise at this point. I will work on that today and tomorrow. Any help would be appreciated.

[gharma]

link for referenced article
http://seekingalpha.com/article/1170561-colossus-minerals-update-on-the-serra-pelada-project

The article omitted all mention of the exploration announcements on the other property, or announced plan of work for the coming months. There should be a number of NRs for assays on the scaled up underground infill drilling.

This morning's dip touched the 52 week low, and the pps now is in an area only visited briefly a couple times since it was seen in the bottoming times of mid-2009. Curious as the project is making good milestones and is "fully funded to production" and looking toward a nice chunk of change from the bulk sampling, so Colossus should be more immune from the price pressures concerns over financing is bringing elsewhere. I've wondered to what extent the Ivanplats entry has had an impact on investor interest.

[MWM]

Colossus Minerals: Update On The Serra Pelada Project
February 10, 2013 | about: COLUF.PK, includes: SAND


In a recent article we briefly introduced Colossus Minerals (COLUF.PK) who are in the process of developing the Serra Pelada gold-platinum-palladium mine in Brazil. On February 7 Colossus released a detailed update on the development which prompted us to write this update on the company and their project.

Colossus Minerals are developing an underground mine at the site of the greatest gold rush in South-American history, the Serra Pellada mine, in JV with COOMINGASP (25%), a Brazilian cooperative company. Drill results from exploration included some of the highest grades recorded for ore of this nature. The geology is complex and building a mine at this location comes with a certain risk which is compounded by the presence of ground water. Moreover, Colossus took the highly unusual decision to develop the mine without prior release of a NI 43-101 reserve estimate. This important mile stone is being compiled for release at the start of Q2 2013. Sandstorm Gold (SAND) have endorsed the project by purchasing a gold and platinum/palladium stream in return for providing part of the development financing. Colossus Minerals is fully financed to reach production.

Colossus Minerals have been updating the market on mine development on a regular basis and with great detail. The latest update confirms that the company is on track to start production in the second half of this year at an initial mining rate of 250 tons per day (tpd) ramping up to 1000 tpd by the end of Q1 2014.

The underground development has reached the mineralised zone in December 2012 and the ongoing collection of a bulk sample from that zone is scheduled to be finalised before the end of March. At the same time the development of the mining faces is advanced through the mineralised zone. Colossus will need two developed faces to support the initial 250 tpd production and it is anticipated that six to nine faces will be necessary for the 1000 tpd target at the end of Q1 2014. Updates on this topic will be eagerly watched by investors who are aware of the geo-technical risks of the project.

Colossus also reports that dewatering of the existing artesanal pit is on schedule and is in fact 95% complete. Underground water inflow rates have been recorded at expected levels and remain manageable.

Construction of the plant and the tailings dam is reported to progress with a view to start commissioning early in the second half of 2013. Connection to the power grid is also anticipated to take place as planned.

In our opinion, this latest announcement indicates that the various development risks are being managed in a diligent manner, including water management and geological issues.

A number of catalysts are due in short order in the coming months:

release of the NI 43-101 reserve statement,
completion of the bulk sample and release of metalurgical results from the bulk sample,
preparation of underground development for mining, and
finalisation of the plant and connection to the power grid.
Every one of these catalysts will represent further de-risking and will set the stage for commissioning, and finally first production in less than 10 months time if everything continues to proceed according to plan.

The company has promised monthly updates from now on in combination with photographic documentation posted online.

Five analysts currently cover Colossus Minerals, two of which rate the Serra Pelada project a buy, two more rate it as a speculative buy and one remains neutral. Analysts' price targets range between $5.50 and $11.50 with the share price currently sitting just above the $4.00 mark trending downwards.

[Picassa]

Colossus Minerals Drills 109.89 g/t Gold, 0.75 g/t Platinum and 15.51 g/t Palladium in the GT Zone and Continues to Expand Upper Limb Mineralization

[Cherise]

Good afternoon. Newbie here, and wanted to share some DD on Mining tax in Para state, Brazil.

Although Vale is promising billions in infrastructure development in the Para state area, they will be hit this month with an extra taxation "for increasing need of official record-keeping by the Brazilian Gov't", I couldn't find any mention of increased taxes on Colossus. What I did find in my DD is a very good read:

Colossus Minerals (TSX.CSI) stunned the mining world last year with its successful acquisition of Serra Pelada, one the most dramatic and fought-for mines ever to emerge in Brazil. And with drills turning right now, there’s no better time to take a hard look at this newly listed company.

A report published in Economic Geology in 2002 cites an internal report by Companhia Vale do Rio Doce that says, “The remaining reserve of Serra Pelada is currently estimated at 3.7 Mt @ 15.20 grams per tonne gold, 4.09 grams per tonne of palladium, and 1.89 grams per tonne of Platinum. Two of the authors of the report were employees of CVRD at the time of its publication.

At today’s prices, that implies a contained metal value of over $2 Billion. But this information is not compliant with National Instrument 43-101.

Latin America’s biggest gold rush started in 1979 with the discovery of Serra Pelada, which brought over 70,000 “garimpeiros” (artisinal miners) to the site 90 km southeast of the town of Marabá in Pará State, Brazil. An estimated 2 million ounces of gold were recovered by this virtual army of hand miners, who carried sacks of muck and rock up steep trails and ladders for processing at the lip of the pit, which eventually measured 400 meters by 300 meters. Unknown quantities of platinum and palladium were also recovered from the operation.

To understand the historical significance and sheer human effort that went into this pit during this period, a viewing of this video (produced by 60 Minutes Australia) is a must:
60 Minutes Classic: Treasure of Serra Pelada (click on the link in the article).

Garimpeiro activity slowed in the late 80’s after flooding and continuous collapses of the pit wall rendered recovery of ore impractical.

Brazilian-based mining giant Vale (formerly CVRD), (NYSE:RIO) who held the rights to the mineral concessions underlying Serra Pelada until 2007, conducted a drill program across 200 holes, with the best intercept an astonishing 4,709 grams per tonne gold, 204 grams per tonne platinum, and 1,117 grams per tonne palladium over 43 meters.

That’s ore with a total value in excess of $162,000 per tonne, and constitutes one of the highest grade gold intercepts in history.

Within this drill hole is a 15 meter intersection of 7,800 grams per tonne gold, 460 grams per tonne platinum, and 2,700 grams per tonne palladium, comprising ore with a value of just under $300,000 per tonne. This puts Serra Pelada firmly in the running as potentially one of the richest mineral deposits in the world, if not the richest.

VALE’s exploration confirms gold, platinum and palladium mineralization continuing under the pit for more than 450 meters, and to depths of 150 to 300 meters.



* this excerpt is from 2009, from: http://www.gold-speculator.com/resourcexinvestor/7094-colossus-minerals-colossal-opportunity.html



At the time of this posting, the RSI is still below 30 (Oversold) at 28.05.



Carpe Diem! Always DYODD.

Cherise

[gharma]

just waiting patiently until the
a) bulk sample gets taken
b) new underground drilling assays start really flowing
c) new property test soils, trenches and drills show what seems there
and maybe to the markets most importantly
d) the inital Ni 43-101 is released

[Picassa]

Construction and development of Serra Pelada has gone on for about a year and the mine is on schedule for production in mid-2013

[gsfl]

Colossus Minerals extends high grade subzones in the CMZ and expands the GT Zone at Serra Pelada

http://www.colossusminerals.com/_resources/news/nr_20111215.pdf

[gsfl]

Colossus Minerals Discovers Extensive Anomalies at Serra Pelada From Soil Geochemistry and Auger Drilling (including 124.78 g/t gold, 6.52 g/t platinum and 7.67 g/t palladium over 1.5 metres)

http://www.marketwatch.com/story/colossus-minerals-discovers-extensive-anomalies-at-serra-pelada-from-soil-geochemistry-and-auger-drilling-including-12478-gt-gold-652-gt-platinum-and-767-gt-palladium-over-15-metres-2011-11-14

[gsfl]

Colossus Minerals Inc. Announces Closing of Bought Deal Financing and Over-Allotment Option Exercise for Total Gross Proceeds of $86,250,000


Toronto, Ontario, November 8, 2011 – Colossus Minerals Inc. ("Colossus") (TSX:CSI)(TSX:CSI.NT) (TSX:CSI.WT.A) is pleased to announce the successful closing of its previously announced bought deal public offering of 75,000 units (“Units”) and the underwriters' exercise in full of an over-allotment option to purchase an additional 11,250 Units at a price of $1,000 per Unit for total gross proceeds to Colossus of $86,250,000. Each Unit consists of a $1,000 principal amount unsecured gold-linked note (collectively, “Notes”) and sixty common share purchase warrants (collectively, “Warrants”). The Units separated into Notes and Warrants on closing. The Notes will mature on December 31, 2016 and will bear interest, accruing and calculated and payable semi-annually in arrears on June 30 and December 31 of each year, at a rate of between 6% and 13%, dependent on the simple average of the Bloomberg Composite New York Gold Price closing price. Each Warrant entitles the holder thereof to acquire one common share of Colossus at a price of $8.50 until expiry at 5:00 p.m. on November 8, 2016.
The syndicate of underwriters was led by Dundee Securities Ltd., and included Clarus Securities Inc., Canaccord Genuity Corp., and GMP Securities L.P., with PowerOne Capital Markets Limited acting as a selling group member.
The Notes and Warrants are scheduled to commence trading today under the symbols CSI.NT and CSI.WT.A respectively.
This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the Unites States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

[gsfl]

Colossus Minerals Appoints Ann Wilkinson as Vice-President, Investor Relations

Toronto, Ontario, October 25, 2011 – Colossus Minerals Inc. (the “Company” or “Colossus”) (TSX: CSI) today announced that effective November 1, 2011, Ann Wilkinson has been appointed to serve as the Company's Vice-President, Investor Relations.
Ms. Wilkinson has over 20 years experience in the mining industry in both investor relations and other management roles. Prior to joining Colossus, she served as Vice President, Investor Relations of Breakwater Resources Ltd., a position she held from October 2005.
Claudio Mancuso, Colossus Minerals’ President and CEO commented, “Ms. Wilkinson is one of the most highly regarded investor relations professionals in our industry. Ms. Wilkinson’s appointment continues our evolution and strengthens our senior management team as we continue to advance the Company’s strategy of bringing Serra Pelada into production. Her significant mining and investor relations experience will undoubtedly make significant positive contributions to the execution of our corporate strategy.”

[gsfl]

News:

http://www.colossusminerals.com/investors/news_releases/index.php?&content_id=157

[Picassa]

Colossus Minerals Drills 7.30 Metres at 1494.7 g/t Gold, 516.6 g/t Platinum and 558.9 g/t Palladium in Extensions of Central Mineralized Zone at Serra Pelada, Brazil

[Picassa]

Colossus Minerals Drilling Extends the GT Zone and High-Grade Subzones in the Central Mineralized Zone and Intersects 74.40 Metres at 31.17 g/t Gold, 3.02 g/t Platinum and 6.78 g/t Palladium

[Picassa]

Colossus minerals (COLUF.PK) - Colossus is a name most have never heard of as it is in the precious metal mining industry where even the large producers are largely unknown by the average money manager and retail investor. Unlike other advanced stage mining companies (approx. 18 months from commercial production), Colossus possesses characteristics extremely unique relative to the rest of the complex. It has shown to have at least one extremely high grade gold deposit, bi-products of platinum and palladium (opposed to the usual silver, zinc, lead, copper, etc.) located in Brazil, which I consider to be one of the most mining friendly countries in the world. Serra Pelada was host to one of the largest precious metal rushes in Latin American history. Its sole focus is on its flagship property, Serra Pelada, which is proving to be one of the highest grade gold and platinum group metal deposits in the world. (SEE: CHART For Highlights).

Like any investment, Colossus comes with its share of risks but this is one story in the industry that has gone more or less overlooked. From what I’ve gathered from my time spent evaluating Colossus, the risk/reward ratio looks extremely compelling and definitely warrants a closer look. The following is a brief overview of management, financial position and developmental progress:

CEO - Ari Sussman whose resume includes 15 yrs involvement in the mining industry. Over the last decade he has raised hundreds of millions for various projects and been involved with the Titanium Corporation and Continental Gold.

COO - Paulo Fagundes – Has a very strong track record of executing mine development and expansion projects. He has proven himself through his general manger position at Yamana’s Mercedes mine, responsible for U/G development as later for the successful expansion at Its San Andreas mine.

CFO - Claudio Mancuso – With over a decade in the capital markets under his belt, he went on to become the VP of Agnico-Eagle from 2002-2009.

Financial Position – With everything on budget for the most part, Colossus has done an excellent job managing its exploration and capital costs incurred thus far. With over 80m of cash on hand at the end of Q2 2011, it is likely one more equity offering will be necessary before initial production commences.

Execution- With construction underway and continued exploration, Colossus has achieved several important milestones, namely the acquisition of an existing ball mill (which moves phase 1 production to 2H 2012 instead of 2013) and finalized plans to extract an initial bulk sample in the upper CMZ. This will be followed by two additional bulk samples from the middle and lower portions of the CMZ once appropriate underground development is reached later in 2012. A 3,500 meter U/G decline is on schedule with 200m completed, with acceleration expected, estimated completion by Q2 12’. 5 drills are currently operating with more to come in the near future. Installation of dewatering pumps and construction of a tailings starter dam are on-going and will be finished Q2 12’ and Q4 2011. Lastly construction of a processing plant completion is currently estimated for Q3 2012.

[Picassa]

Nicholas Campbell, Canaccord Genuity (9/9/11) "We maintain our Speculative Buy recommendation on Colossus Minerals Inc. with a target price of CAD$13.25; recent drill results from the Serra Pelada project extended the high-grade sub-zones of the Central Mineralized zone. . .in our valuation, we have assumed an average grade of 20 g/t gold over the life of the mine; however, the zone of mineralization targeted for initial production has returned average grades of more 35 g/t gold. As Colossus advances Serra Pelada to production over the next 18 months, we expect the shares to reflect a premium valuation given the high-grade, low-cost nature."

Ron Stewart, Dundee Securities (9/8/11) "Colossus Minerals Inc.'s drilling extended and essentially confirmed continuity between the GT and Western zones while recent drilling at the central mineralized zone (CMZ) continues to demonstrate grade and size potential, which would support a lucrative mining operation from which we derive our Buy rating and $13 price target. . .highlight results from today's release included a step-out hole to the southwest which encountered 11.65m at 57.28 g/t gold, 6.58 g/t platinum and 7.66 g/t palladium. . .to test the southwestern extent of the CMZ, the company will drill a fence of 500m step-out holes—should positive results be received from these holes, we believe resource potential for the CMZ could grow significantly."

[gsfl]

Colossus Minerals Appoints Paulo de Tarso Serpa Fagundes Chief Operating Officer
Colossus Minerals Inc CSI

5/9/2011 4:12:56 PM

TORONTO, ONTARIO, May 09, 2011 (MARKETWIRE via COMTEX News Network) --
Colossus Minerals Inc. (the "Company" or "Colossus")(TSX: CSI) is very pleased to announce the appointment of Paulo de Tarso Serpa Fagundes as the Company's new Chief Operating Officer, effective May 9, 2011.
Mr. Fagundes has 30 years experience in the mining industry and brings strong operating experience specifically in South American mining projects. Mr. Fagundes was most recently General Manager of the Mercedes Mine in Mexico for Yamana Desenvolvimento Mineral Ltda. where he was responsible for the development of the underground gold mine, and from 2007 to 2009 he was General Manager of Yamana's San Andres Mine in Honduras where he was responsible for operations, administration and a successful expansion of the project. He previously held senior operating positions with Camargo Correa Group, a Brazilian conglomerate and Companhia Brasileira do Cobre, a Brazilian mining company, where he was Manager of the Sao Luiz underground mine.
Mr. Fagundes graduated from Universidade Federal do Rio Grande do Sul in 1981 with a Bachelor of Science in Mining Engineering, and from Universidade de Sao Pauloin 1999 with an MBA in Business Management - Human Resources. Mr. Fagundes is fluent in Portuguese, Spanish and English.
"We are thrilled that Paulo has agreed to take on the role of managing our aggressive development timeline to production at Serra Pelada," commented Ari Sussman, CEO. "Colossus will benefit greatly from Paulo's leadership as he brings a wealth of operating experiences across a platform of industries in Latin America."
Mr. Fagundes added, "I am very excited to be joining Colossus at such a pivotal moment in the history of the Company. This is a tremendous opportunity to contribute in bringing the high profile, historically significant Serra Pelada mine into production. I look forward to building strong and long-term relationships with our team and all stakeholders."
Randy Reichert, previously Colossus President and Chief Operating Officer, is no longer with the Company. The Company wishes him every success in his future endeavours. Ari Sussman, Colossus CEO has assumed the role of President.
About Colossus:
Colossus is a development-stage mining company focused on bringing into production the high-grade gold-platinum-palladium Serra Pelada project, located in the mineral prolific Carajas region in Para State, Brazil. Between 1980 and 1986 Serra Pelada was host to the largest precious metals rush in Latin American history. Colossus Minerals shares trade on the Toronto Stock Exchange (TSX) under the symbol CSI. The Company is headquartered in Toronto, Canada.

[Picassa]

Colossus Minerals Drills 7.30 metres at 1494.7 g/t gold, 516.6 g/t platinum and 558.9 g/t palladium in Extensions of Central Mineralized Zone at Serra Pelada, Brazil

[gsfl]

Should be making new highs any day now. Amazing results.

[Pro-Life]

Colossus Minerals Drills 7.30 metres at 1494.7 g/t gold, 516.6 g/t platinum and 558.9 g/t palladium in Extensions of Central Mineralized Zone at Serra Pelada, Brazil

Toronto, Ontario, April 26, 2011 – Colossus Minerals Inc. (the “Company” or “Colossus”) (TSX: CSI) is pleased to announce additional assay results from the 25,000 metre surface drilling program at the Serra Pelada Gold-Platinum-Palladium Project, the Colossus-COOMIGASP Joint Venture located in Para State, Brazil.

HIGHLIGHTS (click below)

http://colossusminerals.com/investors/news_releases/index.php?&content_id=143

[gsfl]

Colossus Minerals Drills 7.81 metres at 136.43 g/t gold, 249.20 g/t platinum and 121.40 g/t palladium in Extensions of Central Mineralized Zone at Serra Pelada, Brazil

http://www.colossusminerals.com/investors/news_releases/index.php?&content_id=142

[gsfl]

Colossus Minerals Purchases Ball Mill and Announces Plans to Extract a 2,500 Tonne Bulk Sample at Serra Pelada



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Companies:Colossus Minerals, Inc.
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CSI.TO 8.64 0.00

Press Release Source: Colossus Minerals Inc. On Monday March 7, 2011, 8:34 am
TORONTO, ONTARIO--(Marketwire - 03/07/11) - Colossus Minerals Inc. (the "Company" or "Colossus") (TSX:CSI - News) is pleased to provide an update on development activities at the Serra Pelada Gold-Platinum-Palladium Project, the Colossus-COOMIGASP joint venture located in Para State, Brazil.

The Company has agreed to purchase a ball mill and related equipment for a total cost of approximately US$620,000, which represents a greater than $2 million savings when compared with purchasing new equipment. The equipment is located in Para State, Brazil in the Carajas region approximately 100 kilometres (200 kilometres by road) from Serra Pelada and is in excellent condition. Closing of the acquisition is expected to take place on or about March 15, 2011 and delivery to site will occur in the following 90 days.

Additionally, Colossus is pleased to announce that it has finalized plans to extract an initial 2,500 tonne bulk sample from the upper portion of the Central Mineralized Zone ("CMZ"). The aim of the bulk sample is to characterize the distribution of mineralization across different sections of the upper portion of the CMZ. The material extracted in the bulk sample will include various mineralized sub-zones of the CMZ (i.e SPD-007: 25.80 metres @ 11.66 g/t gold, 12.07 g/t platinum and 18.34 g/t palladium) and the upper limb zone (i.e SPD-047: 5.00 metres @ 59.42 g/t gold, 5.46 g/t platinum and 9.07 g/t palladium). The bulk sample will commence during the first quarter of 2012. Also, the Company anticipates that two additional 2,500 tonne bulk samples will be extracted during 2012, covering both the middle and lower portions of the CMZ once underground development and dewatering provide access to these locations.

Randy Reichert, President and COO stated, "The equipment acquisition secures a key component for the development of the Serra Pelada Project and will not only provide significant savings to the overall capital expenditures of the project, but more importantly will save a substantial amount of lead-time compared to purchasing similar equipment elsewhere, which would normally require up to twelve to eighteen months of delivery time. In addition, the purchase achieves an important step towards the Company's stated objective of seeing the project commence phase 1 production in 2012."

2011 DEVELOPMENT MILESTONES UPDATE:



-- The Company's 25,000+ metre Phase IV surface exploration drill program
is well underway following numerous delays due to unforseen variables
experienced during the first quarter of 2011. A second deep penetrating
drill rig has arrived at site and is expected to accelerate exploration
drilling of the CMZ extensions. A total of five drills are now in full
operation on the property and the Company is planning to add more drill
rigs in the coming months. Initial targets being tested (see figure 1)
are the CMZ extensions, the up-plunge extension of the GT Zone to
determine whether or not the GT Zone and the Western Zone are in fact
one single zone, the Portal Zone and other targets situated between the
CMZ and the Portal Zone (approximately 800 metres of strike length).

-- The 3,500 metre underground decline is progressing as planned, with well
over 200 metres now complete. In April 2011, a new shotcrete jumbo and
rockbolter will be delivered to the project and expectations are that
underground development will accelerate significantly to an approximate
advance rate of 10 metres per day. Completion of the decline is
anticipated in the second quarter of 2012.

-- The Company has placed a purchase order for two underground diamond
drills. Underground drilling on the first of many targets is scheduled
to commence during the summer of 2011. More underground drills may be
purchased at a later date as well.

-- Construction of a 200-person camp commenced in early November 2010 with
completion expected early in the second quarter of 2011. The camp
cafeteria is already in operation.

-- Construction of the tailings starter dam is scheduled to begin in May
2011 and is expected to be complete by the fourth quarter 2011.

-- Dewatering has commenced with more than half of the wells completed.
Installation of the dewatering pumps will start before the end of March
2011. It is anticipated that dewatering to a depth of 320 metres will be
complete by the second quarter of 2012.

-- Process plant engineering and design continues to progress. Construction
of the process plant is expected to begin in the third quarter of 2011
and is expected to be complete in the third quarter of 2012.

To view figure 1, please visit the following link: http://media3.marketwire.com/docs/CSI0307fig1.pdf

[sluice]

For those that are following this team, Ari Sussman and Keith Mckay have just moved into Dalradian Resources. Pretty impressive results they turn up. They already have a 43-101 inferred 1.4M oz Au @14g/t and indicated at about 400,000 oz Au @ 13g/t. Has all the looks of Continental and Colossus when they came out. They're also being covered by GMP Securities.

[sluice]

Looks like Ventana is going to for the buyout at over $12 a share. I'm hoping for the same with Colossus, although for more.

[goldisking3000]

More info http://www.colossusminerals.com/investors/share_structure/

[goldisking3000]

Good info here http://www.colossusminerals.com/investors/news_releases/

[goldisking3000]

October 2010 Presentation ...

http://www.colossusminerals.com/_resources/presentations/CSI_Corporate_Update_Oct_2010.pdf

[goldisking3000]

Looking very good here Colossus Minerals ...

[gsfl]

Colossus Minerals Inc. Announces C$60,225,000 Bought Deal Financing
TORONTO, ONTARIO, Oct. 25, 2010 (Marketwire) --

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Colossus Minerals Inc. (TSX:CSI) (the "Company" or "Colossus") announced today that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. (the "Underwriters"). The Underwriters have agreed to purchase, on a bought deal basis, 7,300,000 common shares (the "Common Shares") of the Company, at a price of C$8.25 per Common Share (the "Offering Price") for aggregate gross proceeds to Colossus of C$60,225,000 (the "Offering").

The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 1,095,000 Common Shares at the Offering Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional C$9,033,750 will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be C$69,258,750.

The Common Shares will be offered by way of a short form prospectus to be filed in all of the provinces of Canada, except Quebec.

The net proceeds are intended to be used to fund expenditures on the Serra Pelada project and other exploration activities and for general working capital and corporate purposes.

The Offering is expected to close on or about November 16, 2010 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

[phoenixgems]

Here is the 3 page article posted on Folha de Sao Paulo over the weekend showing that the lawsuits could unravel the entire reopening of Serra Pelada.

http://search.folha.com.br/search?q=phoenix%20gems&site=jornal

Anyone with a subscription and translation capabilities can post for the rest of the people.

Cheers.

[sluice]

Not sure at all who this birdie is or what credibility I can give a statement like that. Anything can happen in the next 90 days. A little more of an elaboration always helps with statements like those so you're more than welcome to do so Phoenixgems.

[phoenixgems]

A birdie says that a possible negative news article will be hitting the national media soon.

Tread carefully folks during the next 90 days.

Might also want to ask Colossus (if you go meet with them) how pending lawsuits might make their contracts, etc become null and void.

[sluice]

yep, there is a pinksheet listing. Seems to trade a little lower than the tsx though, and with considerably less volume.

I'm going to the NY Hard Assets Conference on monday. Gotta meet these guys in person so I can talk to them one on one. Otherwise, good news today regarding the mining lease.

[MWM]

Just noticed there is a pinksheet listing for Colossus...

[MWM]

Very nice, thanks for sharing!

[sluice]

Yes it was, and still is. I just wanted to say something here that I sorta kept to myself as I really wanted to wait and see if it happened. I guess it's relative to some of the last few posts on this board.

Last fall I was able to attend The Silver Summit in Spokane, WA. John Embry just happened to be there and I guess that with the conference being as small as it was I was able to throw in a question about Colossus because I knew Sprott had an amount of ownership. He knew exactly what I was talking about and I remember him opening with this,"Let me tell you this about Colossus. They're either going to be really really huge, or they're going to be a complete bust." When I asked him why he thought they could go bust, he said it was because of their need to acquire more surrounding property.

I almost forgot about him saying this and I'm glad I remembered. I've been contemplating selling my shares to invest in some other companies but I think I'll have to see how they progress in the short future here. Since my little talk with Embry, they've accomplished so much. I think most of my doubt has been erased. My biggest question now is how high will they go?

[MWM]

Wow what a move here from Feb!