Continental Gold (CNL.to) in situ valuations at Buritica

With decently sourced jungledrum rumours and heresay and whispers and all that jazz saying the Continental Gold (CNL.to) is about to release a 43-101 resource count for its Buritica project in Colombia of three million ounces of contained gold, your author has been asked by third parties to consider valuing those ounces in situ. Here's a quick calculation table that assumes the following:

• The rumored 3m oz Au resource count is correct (we'll find out soon enough, but that's the word form Brisbane anyway).

• Current shares outstanding count of 107.3m

• Tonight's closing price of CAD$7.53, as well as other prices up and down the scale for comparative purposes

• U$1 = CAD$0.95

We also back out the current working capital at CNL.to, assumed at a round U$100m and once all that's cone here's the chart that your humble scribe's XLS spits out:

So with all those assumptions, especially the loose-lipped Australian one about the resource number, we're pricing up those underground ounces at U$250 a pop. Waddya say Ari? That seems expensive to you too?

Pssst! Can you keep a secret? DYODD

PS: Oh yeah, best to disclose in this post: No position in CNL.to.

Who Wants To Be a Millionaire?, Colossus Minerals (CSI.to) version

Congratulations to Ari Sussman, latest winner of the mining CEO millionaire payoff competition. If any of you sucke....OOPS SORRY! diligent investors who bought into that $57.5m financing back in October were worried about how the proceeds were being used, then fear not! Around 2% of the moolah has been safely pocketed by the company CEO.

Colossus Minerals Inc. (CSI)						As of December 13th, 2009
Filing Date	Transaction Date	Insider Name	Ownership Type	Securities	Nature of transaction	# or value acquired or disposed of	Unit Price

Dec 11/09	Dec 03/09	Sussman, Ari b	Direct Ownership	Common Shares	10 - Disposition in the public market	-100	$5.990
Dec 11/09	Dec 02/09	Sussman, Ari b	Direct Ownership	Common Shares	10 - Disposition in the public market	-73,200	$6.030
Dec 11/09	Dec 02/09	Sussman, Ari b	Direct Ownership	Common Shares	10 - Disposition in the public market	-25,500	$6.050
Dec 11/09	Dec 02/09	Sussman, Ari b	Direct Ownership	Common Shares	10 - Disposition in the public market	-13,700	$6.020
Dec 11/09	Dec 02/09	Sussman, Ari b	Direct Ownership	Common Shares	10 - Disposition in the public market	-29,100	$6.090
Dec 11/09	Dec 02/09	Sussman, Ari b	Direct Ownership	Common Shares	10 - Disposition in the public market	-4,000	$6.100
Dec 11/09	Dec 02/09	Sussman, Ari b	Direct Ownership	Common Shares	10 - Disposition in the public market	-1,900	$6.110
Dec 11/09	Dec 02/09	Sussman, Ari b	Direct Ownership	Common Shares	10 - Disposition in the public market	-21,300	$6.150
Dec 11/09	Dec 02/09	Sussman, Ari b	Direct Ownership	Common Shares	10 - Disposition in the public market	-700	$6.170

That little lot adds up to 169,500 shares for gross proceeds of one million and twenty-seven thousand, two hundred and eighty-six dollars. Yes indeedy, Ari's auto-Christmas present this year is ONE.....MILLION.....DOLLARS

HOORAY FOR CAPITALISM!