selling welcome, page-17

Find8, I recall reading a post of yours where you indicated you only had a small holding in CTO. That is at complete odds with your post I'm replying to which seems to indicate CTO is a stock where no matter whether the business succeeds or fails shareholders will make a lot of money.

Why not shout out, "Best investment on the ASX. Impossible to lose!!"

Well I contend that is absurd.

I suggest you do a bit of research and find out how credible JORC inferred resources are. The fact is JORC inferred resources may or may not exist.

What's gone so wrong or been so unexpected that production has actually declined since the much hyped up power upgrade announced to the ASX on 24th. August last year? Unless I missed it I don't recall such token gold production afterwards being flagged at the time.

Quote: "The State transmission lines upgrade is now completed and switch over by the mine to the upgraded
underground connection is currently scheduled to take
place by Thursday 21 August 2008. The power upgrade
to the mine will then be complete.

The power at the Charters Towers Warrior mine has
been the major impediment to achieving planned mine
production. This upgrade will be a significant boost to
operational efficiencies and coupled with the increase in
operating time will help to increase gold production from
the Warrior operations and reduce operating costs as
economies of scale are obtained....

24/7 Operations Commenced
The underground mining operations commenced on a continuous 24/7 basis from 4 August 2008 with the change of shift work arrangements for the underground miners
to 12 hour shifts per day with a four (4) panel roster.
The move provides 40% more operating time than the original 2 by 10 hour by 6 day roster. This increase in operating hours is another important step required for
scaling up of mine development and gold output over the coming year."

Yet we see a token 2,500 ounces of gold production over the March three months and another token 2,500 ounces now predicted for this quarter.

As for big dollars being paid for a failed business. Ho hum. Ho hum. Gold companies pay the dollars for indicated and measured RESERVES. CTO at present has minimal indicated and measured RESERVES. The one million ounces of reserves aimed for in for 2008 did not materialise. Nor so far has the 2 million ounces of reserves aimed for in 2009.

Do you seriously believe that big dollars are paid for inferred resources that sometimes turn out to be nothing more than pie in the sky?

"Five drilling rigs will be operational by the end of quarter 1 of the 2008 calendar year. This drilling is aimed at expanding gold reserves to 1 million ounces in 2008 and 2 million ounces in 2009. Gold resources are expected to grow above the current 10 million ounces."
Released to the ASX on 19th. December 2007.