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.
