CTO citigold corporation limited

Ann: Quarterly Activities and Cashflow Report , page-18

  1. gmt
    8,261 Posts.
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    trtkjd1,
    I would not call them a producer as yet, yes they getting some gold ounces out but the primary focus is building the mine so the gold recovered at the moment is really a by- product. Would tonnages and head grades at this stage really be a fair measure of the performance of the mine, if they were providing these they could be extremely skewed IMHO. I agree management have made a hash of this with production targets way off and over zealous statements giving unrealistic expectations. It still remains a spec this will not change till if and when it truelly becomes a producer.

    We have all become experts on mining and management over the years and had negative and positive views on cto at the end of the day management won't be replaced in the short term so we make our own choice to hold or sell. DYOR
 
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