Media Coverage: Steve Palmer, President & CEO of Alpha North Asset Management highlights Colossus in a recent interview with Streetwise Report
October 28, 2009
Dear Shareholders and Friends,
In a recent interview with Streetwise Reports, Steve Palmer - President and CEO of Alpha North Asset Management, highlighted Colossus Minerals. According to Steve, "I'm expecting the U.S. dollar to rally in the short term and gold to sell off." Forecasting a bit of a pullback in the next month or so followed by another rally before year's end, Steve also explains his 'bigger bang for your buck' penchant for exploration stories in this exclusive interview with The Gold Report.
Steve Palmer and Joey Javier, an investment team since 1998, took three key assets�their excellent track record, their experience and their belief that exploiting inefficiencies in the Canadian small-cap universe would produce superior long-term equity returns�to AlphaNorth Asset Management, launching the Toronto-based investment management firm in August 2007.
Steve, who is a Chartered Financial Analyst, earned his BA in Economics at the University of Western Ontario. After starting in the investment community as a research associate, he moved to a major financial institution in mid-1998, where he met Joey and built his career. As Vice President of Canadian Equities, he managed assets of approximately $350 million, including a pooled fund that focused on small-cap companies.
We thought that you would appreciate reading Mr. Palmer's comments on Colossus Minerals. Scroll down to read his comments.
Regards,
Ari Sussman
Chief Executive Officer
Steve Palmer's Comments:
SP: The fund is very diversified. . .but we did have a few big winners that really helped. Colossus Minerals Inc. (TSX: CSI) was a big winner.
I think there's more upside to come. They just raised money as well, so now they're fully financed into production and they've applied for a mine permit, which they're hoping to get early next year. That could also be a catalyst for a takeout once they get their permit. They've had some fantastic results and they're continuing to drill on that property.
TGR: They've had an incredible increase in their stock price this year. Earlier, you mentioned they were a big winner. How much more upside can they have?
SP: I think that if the drill results keep coming in as they have been and they progress towards producer status by obtaining the permits it will trade over $10.
TGR: Will they be reliant on the price of gold staying above $900?
SP: Not particularly because it's mor e of a building resource type of story; the grade is very high and they don't just have gold. They have very high grades of platinum, palladium and some other minerals like rhenium as well, so their operation would be highly profitable regardless of whether gold is above $1,000 or not.
It's still a developing story. Further catalysts could come from proving up other zones on the property that they're doing some work on, or if they were to acquire additional land in the area. http://theaureport.com/pub/na/3208 |