Colossus is a Canada based exploration and development company. Our primary focus is to advance the Serra Pelada project, located in Para, Brazil, into production. Serra Pelada is host to one of the highest grade gold and platinum group metal deposits in the world. More
Friday, Dec 610:59 AMSandstorm partner pulling out of Serra Pelada project, shares halted
Friday, Dec 610:59 AM| 3 Comments
- 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.
Wednesday, Sep 192012, 9:01 AM
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