agm questions, page-18

For the AGM.

where is the mea culpa?

1. Was the Jorc wrong?
2. has the management pursued the wrong mining apporach, selected wrong equipment, i.e. failed technically
3. is the resource unminable under any mining scenario given the total hope/reliance that the "unproven untested unsuccesful pod finding" technology hasn't delivered
4. the lack of enthusiastic JV partners - why? (see above reasons) plus conflict of interest between shareholder Board control vs sharehalder interests ..given the loss of Board control to a shared Baord control with JV involvement. Basically moving from nepotism to somethiong looking like a fuinctioning Board if JV partners are alowed in the tent. What are the general terms and conditions being offered to JV partners?
6. what are the selling points to JV partners - appears only the staked acreage rather than anything the company has created in mining process, financial returns or de-risking of mining.
7. what was Gateway Mining puirchased by share dilution for no return?
8. what arithmetic error caused the massive drop in gold production estimates leading to CTO reclassifing itself as explorer rather than producer to avoid more egg on face.

In summary the company has failed completely to add any value. Does not the Board agree, if not why not. At what point does the company "man-up" and say its the company, its the resource, or something else.

Until there is some serious exposure and identification of what has gone wrong, ANY commentary about what next is standing on sand, and commentary about beautiful plumage is puffery at best. Will the company come clean, or is loss of face, and hence completely new management required first before being able to really criticise itself honestly without fear or favour at all levels of the company to be able to move forward.

The time has passed to offer glib, condescending and superficial praise of efforts to date.

The Board can not say it has done a good job because the balance sheet, the shareprice and market capitalisation, absence of sustaining cash flow (and balance sheet/cashflow and fluctuating accounting definitions do not hide the reality) all argue that it hasn't.

Last comment: if there is no purging of the soul and no forthrightness and passing of the sniff test on nthese issues - basically a mea culpa somewhere from someone, then CTO is buggered.