Resources ARE speculation ... until it's out of the ground it's 'guess work' (just look at Bendigo).
Having said this, CTO have JORC certified reserves of 10m oz and evidence that there is a lot more (up to 50m oz).
If you want guaranteed return, then buy in when it's $2 (and there's nothing wrong with that strategy AT ALL ... but for me, I bought in at 14c average and expect it to be a 10 bagger plus).
I think the big p1sser with them is a chairman that shouldn't be there, a closely held 3 man Board (a dictatorship, if you like) and an incorrect perception in the marketplace that this is another BDG. Having said this, I think Mark Lynch is OK ... he just needs new blood to take it to another level (take-over anyone???).
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