Thankyou for posting the link, it certainly makes for interesting, if not grim reading if you are a CTO shareholder, but similarly I dnh and never have.
I can honestly say CTO is the kind of company that will survive just long enough to extract its pound of flesh, before dying a slow horrible death. Like a wounded animal, it will hobble along for another couple of years, never quite staying in the hunters sights long enough to be put out of its misery.
Mark my words, each of our professional careers will prosper and survive long beyond this particular company's lifespan. But unfortunately the events from 2003-06 (i.e The Boom) elevated many unscrupulous individuals to positions that they were simply unfit and unqualified for, positions that during 'normal' economic periods would be held by competent and experienced people at the very least.
There is only so long that they can continue to spruik the 10M oz story, which by now most of you will be asking if it even exists. Yes, and what has happened to that hole to the center of the earth? Good question, they've gone very quiet on that one!
Even if the 10Moz exists in reality, if it is really that deep and has a very low probability of eventual economic extraction, then using the JORC guidelines, it shouldn't even be classified as a "Resource", but more correctly as "Mineralisation". Massive difference between those two terms; if you're dying of thirst, there's little point having a water bottle if you can't reach it.
CTO Price at posting:
16.5¢ Sentiment: None Disclosure: Not Held
