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clock Created with Sketch. 17/03/17
12:42
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Originally posted by boles
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Shock, horror. Aaron Data Systems Inc, USA, has given CTO a lifeline. Quite a confusing deal but the way I read it, because CTO doesn't have two bob, this mob will purchase in situ gold and "provide the full working capital for the growth of gold mining...." Over a five year period to March 2022, CTO hope to produce and sell to this buyer 66,000 ounces worth about $AU100 million. I still don't believe it. What will happen to the current CTO debt of approx $24 million? Will the buyer cover this debt before committing funds for mining? Certainly creditors would be extremely unhappy if their debts weren't paid first.
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Sounds to simple to be true, real money created from virtual reality. Have to give credit to these tech geeks that come up with these schemes.
(20min delay)