![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Tuesday, October 27, 2009 7:30:10 PM
In a nutshell, Phoenix Gems do Brasil LTDA had an exclusive agreement with Coomigasp and the Serra Pelada deposit. Colossus Minerals was able to negotiate with Coomigasp only after they reached an agreement with Phoenix Gems do Brasil LTDA. There was previously 3 quotaholders of Phoenix Gems do Brasil LTDA.
The 3rd quotaholder was illegally excluded from Phoenix Gems do Brasil LTDA just a few days prior to Colossus signing their agreement with Phoenix Gems do Brasil LTDA and if the courts rule that this exclusion was in fact invalid and he was never removed from the company, then all agreements made without his signature are null and void since his signature was a required one for validity. None of the Colossus agreements for Serra Pelada have his signature and these contracts will become invalid if the courts rule in his favor unless Colossus reaches a new agreemeent with him.
FEATURED POET and Luxshare Tech Expand Product Offerings for Artificial Intelligence Networks • Aug 1, 2024 9:28 AM
Management Discusses Financial Filings of Global Arena Holding Inc., for 10-K 2023 and 10-Q, 1st Quarter 2024 • GAHC • Aug 1, 2024 9:14 AM
VAYK Announces LOI to Acquire $1 Million Home Service Company to Support Airbnb Business • VAYK • Aug 1, 2024 9:00 AM
Duane Forrester Joins INDEXR as SVP of Search • MONI • Jul 31, 2024 11:46 AM
Lingerie Fighting Championships Help Fulfill Death-Bed Promise With First Major Motion Picture • BOTY • Jul 31, 2024 9:00 AM
Kona Gold Beverage Significantly Reduces Debt from Multiple Holders • KGKG • Jul 31, 2024 9:00 AM