Colossus Minerals Inc. Announces COOMIGASP Shareholder Approval and Acquisition of 774 Hectares land in Serra Pelada
Colossus Minerals Inc. (TSX: CSI) has announced that their joint venture (JV) partner shareholders COOMIGASP (Cooperativa de Mineracao dos Garimpeiros de Serra Pelada) already approved Vale S.A. (“Vale Option Agreement”) agreement. The Vale Option Agreement is to acquire 100% interest to mine precious metals in a 700 hectare land package.
The agreement between Colossus Minerals and COOMIGASP’s transfer of Vale Option Agreement into Serra Pelada Companhia de Desenvolvimento Mineral (“SPC”) is coupled with approval of the shareholders. The conversion rate used for currency in this press release is $1.00 Real equals US $0.56.
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Mon, May 17, 2010
Post by Mike Rodger, Platinum Reporter