Replies to post #149 on Colossus Minerals Inc (COLUF)

[phoenixgems]

Sluice, I will try to sum things up for you.

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.