how odd is this trading, page-17

According to the company announcements CTO is targeting a production of 50,000 oz this year and 125,000 oz next year.

When I spoke to the company I was told not to expect any significant ramp up until the September quarter... the three months starting July... but there was an expectation that the 50,000 oz target will be met over this Calendar year 2008.

We need to look at this as a long term investment and keep the faith.

The current 20,000 oz/annum is a start and there's an automated mining system slowly being introduced/incorporated which will need some tweaking - I dont know of other australian mines using this method.

So we might be in for a slow start with this new technology and system - but once it takes off we might be thinking what were we concerned about as it meets every target thereafter.

CTO knows the perception is it hasnt met its targets and I'm sure will be doing its darnest from here on to ensure that it starts doing so.