There were plenty in the running for this week’s award, but all are trumped by this short, sweet and nasty one from Colossus Minerals (CSI.to), a company that’s just lost its lender of last resort.
TORONTO, ONTARIO–(Marketwired – Dec. 20, 2013) – Colossus Minerals Inc. (CSI.TO)(COLUF) (“Colossus” or the “Company”) On Friday, December 20, 2013 the Company was advised by Arias Resource Capital Fund II L.P. and Arias Resource Capital Fund II (Mexico) L.P. (together, the “ARC Funds”) that the ARC Funds would not be proceeding with the two tranche financing previously announced on December 18, 2013.
Somebody’s talked some sense into Beto. This also explains that very hefty late-day selling in CSI and perchance your author’s call concerning the need for the correct course of capitalism will now come true sooner than expected.