Colossus To Sell Gold-Platinum-Palladium Project To Sandstorm

Mining Weekly reported Colossus Minerals (TSX:CSI) agreed to sell life-of-mine metals streams at its gold-platinum-palladium project to Sandstorm Minerals for a deposit of $75-million.

As quoted in the market news:

Under the terms of the agreement, Colossus would deliver to Sandstorm 35% of the platinum and palladium and 1.5% of the gold produced at Serra Pelada over the life of the mine.

The financing was expected to propel the mine’s construction forward to a strong position to produce metals from 2013.

Colossus would deliver its 75% share of production at the Serra Pelada project.

Click here to read the full Mining Weekly report.