From IKN’s department of shareholders-if-they-can’t-take-a-joke-f***-em, Colossus Minerals is making great strides this morning because some analyst who works at the can of corn that really, REALLY should learn some Portuguese before opening his mouth reco’d the stock to his flock. Here’s how Canaccord’s Morning Coffee publication broke the shameless BS pum…….SORRY!!, the considered analytical opinion to its flock this morning.
“Given the considerable M&A activity in the mining sector and a growing consensus that the price of gold may still track upwards, it appears investors may have some interesting opportunities. Canaccord Adams Mining Analyst Nicholas Campbell believes that Colossus Minerals is a likely acquisition target and sees the potential for the project to be advanced to production by late-2011 to early-2012.”
Truly I say unto you, great grades or not there’s more chance of Hugo Chávez having gay sex with Andrés Oppenheimer than any major paying serious multimillions for this asset. Not only are there serious geological issues and a lot of geols scratching their heads and saying “with host rock like that, how the devil are we going to get it out the ground?” but the volatile political risk tinderbox that is Serra Pelada makes Honduras look calm and stable. Canaccord’s analysts are just leading their sheep up the garden path…again.
Dumbass analysis on Latin American mining issues never ends, even from those who get paid to analyse LatAm mining. Production late 2011? Gimme a break! I laugh at the lemmings, sneer contemptuously at the uninformed analysts leading them astray and avoid this stock like the plague.