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.

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Comments (3)
  • DeepValueLover
    , contributor
    Comments (11168) | 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 (869) | Send Message
     
    2 for sand? or under 2 cents for coluf?....
    6 Dec 2013, 05:24 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (11168) | Send Message
     
    (SAND) ;)
    6 Dec 2013, 05:55 PM Reply Like
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