Colossus Minerals Inc (COLUF)

[tsl444]

Pescod on Colossus:

COLOSSUS MINERALS (T-CSI) $5.89 +1.05
With gold and precious metal prices coming back over
the last six months and so many junior explorers being
financed, there is lots of exploration out there these days
around the world and there have been some stunning drilling
results.
All of a sudden, there seems to be more and more good
gold deposits out there from drilling that has been reported,
but few compare with the absolutely stunning results
announced from Colossus Minerals today. Not only
were the widths unbelievable, with 70 metres, but the grade
of 53 g/t gold and 20 g/t platinum and 31 g/t palladium, was
the kind of stuff an explorer can only dream of.
Huge widths, unbelievable grades, when does Colossus
get bought out? They are working in an area of Brazil
known to have rich ore that had been mined by garimpuros
for a long time, so finding stuff isn’t the surprise. The big
question remains how big this project could be.
Canaccord had recently raised their target from $5.50 to
$7.25; Thomas Weisel from $4.50 to $7.00 and we suspect
there might even be future additions.