Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) has identified its next steps towards securing funding for its 75% owned Serra Pelada gold-platinum-palladium Mine. The Colossus board of directors have decided to review the Company’s strategy, and will be ceasing underground development for the time being as they focus on de-risking the project as well as decrease overall cost.
Palladium Company News Directory
Bloomberg reported that North American Palladium Ltd. (TSX:PDL,NYSEMKT:PAL) does not know why its share price sank by 27 percent two days ago. Phil du Toit, the company's CEO, maintains that the company is "working hard" to get financing.
MetalMiner reported that CIBC believes North American Palladium Ltd.'s (TSX:PDL,NYSEMKT:PAL) future doesn't look particularly bright, largely due to the fact that a slow ramp up at the company's Lac des Iles mines has left it in need of more cash.
Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) has appointed David Massola as Interim Chief Executive Officer effective November 15, 2013.
Colossus Minerals Inc. (TSX:CSI,OTCWX:COLUF) provided a development update for its 75% owned Serra Pelada gold-platinum-palladium Mine along with its financial results for the interim periods ended September 30, 2013. As of November 14, 2013, the Company had completed approximately 2,300 metres of total development on Serra Pelada.
Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) announced that John S. M. Turner has resigned from the board of directors for personal reasons.
North American Palladium Ltd. (TSX:PDL,NYSEMKT:PAL) announced that it has started hoisting material through the new shaft at its Northern Ontario-based Lac des Iles palladium mine. The shaft is about 825 meters deep and has a maximum hoisting capacity of 8,000 tonnes per day; it is expected to eliminate the current production bottleneck.
Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) appointed David Massola as its Chief Financial Officer and Executive Vice President, effective October 21, 2013.
Ivanhoe Mines Ltd. (TSX:IVN) announced that it intersected mineralization containing 4.51 grams per tonne (g/t) of platinum, palladium, rhodium and gold over 90.64 meters at a cut of 1 g/t 3PE at the Flatreef discovery, located at the company's South Africa-based Platreef project.
Bloomberg reported that over the next five years, Norilsk Nickel (MCX:GMKN) plans to invest as much as $10 billion in order to boost its output. Its platinum and palladium production may increase from 2013 levels by about 2 percent each in 2016 and about by 10 percent each in 2018.