Yes, it appears they will mine out Cleopatra and perhaps secure $250M of the capital costs.
As they proceed in this direction it will be easier to raise the rest of the money. They will need some capital infusion late 2014 as they get closer to starting first construction. Hopefully by then the share price exceeds $10-12 level to minimize dilution. I guess they can always do a convertible bond ($150M).
Also, the updated FS in April should show LOWER capital costs: $670M down to $580M.
With higher gold ozs even after not counting Cleo which is going to be a standalone project. They payback will be close to 1 1/2 years.
This should be irresissible to a major. Takeout at $20 possible if gold exceeds $1700 late 2014.
So Jantrou what you are saying is that they may have several thousand tons (with 10 ozs minimum) from Cleo ready to process in the Montana mill to raise operating funds at least for the first half of 2014 until the market and PoG recovers. Can they legally ship this ore ???
It is not so much technical, they just need boatloads of money constantly, so the stock gets decimated each time they go hat in hand. It appears they are not performing but the reality is stock dilution is a nasty game. They have no leverage so they seek out funds from the vulture crowd including that self-dealer twerp Arias
No update since 9/23, nothing in October. Get the new CFO to do the Q3, it will be good experience for him
plus why pay him to do nothing. Colossus is getting scarier and scarier each passing day.
Yeah, you get the plant for under 35 cents on the dollar -- already built, no engineering cost either, plus all the gold and platitum in the ground is free.
Colossus solved nothing; they are on life support. They just built a custom Porsche but have no money for gas.
Colossus not to be trusted, even less than Pretivm. They have seemed to stop issuing updates.
Someone may come by next year and just buy up the property and equipment "as is. "
Yes, it is 95 % complete, they have spent over $300M. Probably out of money in Q1. It should work with good management. Not these fools. I cannot believe they will mine and sell any gold.
A good buy for $ 100M which is 50 cents per heavily diluted share.
taper announcement. Gold down $13.00 in Japan. So what else is new ? Bullion banks, Goldman Sucks, JP Morgue cheating innocent holders. They will fail eventually. This POS climbs above $1 by the end of October. You heard it first, you heard it here.