In some ways I find it frightening to see that the market still thinks Colossus Minerals (CSI.to) has an equity value of $15m. Even after a raft of news releases, up to and including the one last night, that are the publicity equivalent of picking up a large piece of wood and whacking the investment community very hard indeed in the forehead several times while chanting “this company is bankrupt” in mantra style.
In other ways it’s understandable I suppose. Humanity’s way of clinging onto the final dregs of life, even after all logical and reasonable hope has gone, plus the microcosm aspect of the capital markets. But still, valuing this at $15m? Seems very rich, even for a Hail Mary.
PS: The above was written when CSI.to was trading at 9c this morning. It closed at 7c.