Colossus Minerals : High Grade Noble Metals Projects in Brazil
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
AGORACOM NEWS FLASH
Dear Agoracom Family,
I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.
As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.
To this end:
1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.
2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.
Have a great Sunday, especially those of you like me that are celebrating Orthodox Easter ... As well as those of you who are also like me and mourning another Maple Leafs Game 7 exit ... Ugggh!
Sincerely,
George et al
Message: CSI Corporate Update
Quite a turn around. SMF
Colossus Minerals Provides Corporate Update
Thursday November 14, 2013, 2:38pm PST
Colossus Minerals Inc. (TSX:CSI,OTCWX:COLUF) provided a development update for its 75% owned Serra Pelada gold-platinum-palladium Mine along with its financial results for the interim periods ended September 30, 2013. As of November 14, 2013, the Company had completed approximately 2,300 metres of total development on Serra Pelada.
As quoted in the press release:
As of November 14, 2013, the Company had completed approximately 2,300 metres of total development; 1,500 primary and 800 metres secondary development. On July 15, 2013, the Company announced that some dewatering wells (bores) and pumps were not performing to design specifications and, as a result, the Company required additional dewatering capacity in order to mine the Central Mineralized Zone (“CMZ”) in a sustainable, effective and efficient manner.
As disclosed in September 2013, several bores and pumps have been repaired and six bores are now operating. Refurbishment of three additional bores was not successful. Total dewatering capacity is currently at 790 m3 per hour. Three more bores are in the process of being refurbished. Two additional bores with a capacity of 250 m3 per hour each are being established. Installation of this equipment has been delayed due to issues of mobilizing drill rigs to site and equipment supply. It is currently expected that the first of the two new wells will be operational by early December 2013.
Results of Operations for the three months ended September 30, 2013
Net income for the three months ended September 30, 2013 was $9.8 million ($0.07 per Common Share) compared with a net loss of $14.1 million ($0.13 per Common Share) for the comparable period in 2012.
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