Sandstorm partner pulling out of Serra Pelada project, shares halted

Sandstorm Gold (SAND +0.9%) says partner Colossus Minerals (COLUF) is pulling out of underground development at the Serra Pelada mine in Brazil to reduce ongoing costs.

SAND says it will need additional funding in order to proceed with the project, and will review its investment for a partial or full impairment as there can be no assurance that adequate funding will be available for Colossus in the future.

Trading remains halted.

From other sites
Comments (3)
  • DeepValueLover
    , contributor
    Comments (11357) | Send Message
    Looks like it could be a good opportunity to get in under $2.
    6 Dec 2013, 12:51 PM Reply Like
  • MichaelJ8
    , contributor
    Comments (883) | Send Message
    2 for sand? or under 2 cents for coluf?....
    6 Dec 2013, 05:24 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (11357) | Send Message
    (SAND) ;)
    6 Dec 2013, 05:55 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs