“The Au-PGE assay results would be extraordinary anywhere other than Serra Pelada. Colossus’ work continues to add value to the Serra Pelada treasure chest, demonstrating that PGE’s will contribute significantly to the worth of this remarkable deposit.”
That’s very fair comment, as anyone who has checked out the background of Serra Pelada knows what kind of story the site has already. Now let’s just zoom in on one line of those drill results, the rich band that’s the third line of the FD-072 drill result. Just for fun, here’s the ounce value of each main metal reported, then multiplied by the latest spot price to give its over-the-ground final market value.
Gold: 46 oz/t X $920 = $42,320
Platinum: 8 oz/t X $1,050 = $8,400
Palladium: 10.3 oz/t X$211 = $2,173.30
Rhodium: 0.2 oz/t X $1,000 = $200
Iridium: 0.135 oz/t X $425 = $57.4
Or in other words, that 1.87m thickness of rock is “worth” $53,170.70 per metric tonne. I’m not totally sure, but that might be an all-time world record. I don’t think even the Athabasca Basin can beat that valuation.
All very impressive, and the truth machine was always going to bring back big numbers. However (and however much the stock jumps in the next few days on the hype and market noise) there’s no way I can recommend Colossus Minerals. The reason is the politics there. Put simply, if you can’t get the rock out the ground it’s worth nothing. DYODD, dude. I’ll very happily let this story pass me by, now and in the future. When something seems too good to be true, it is.