down hopefully not all the way, page-15

There has been 2 recent board members appointments (announced 17/01/11) & some mine management restructuring with the appointment of a new geologist with narrow vein expertise and a new site manager (announced 21/01/11). Hopefully the new mix will introduce new objectivity and better execution.

Insofar as voting for the removal of the CEO & the Chairman, GOOD LUCK! There have been campaigns to vote them out in the past. "Friends of Citigold" comes to mind. They couldn't find the votes after being slapped with an injunction for campaigning shareholders for votes in a manner that boardered on incitement. The group later disbanded. Perhaps there are friends still around reading this thread.

The Lynch family control this company through inheritance from the late Jim Lynch who spent his life scratching around and acquiring the regions mining tenaments. Many large shareholders bought into Charter Towers Gold Mines when the old man pushed the buttons. He was a very knowledgable old timer.

Although the number of issued shares has more than doubled over the last 7 years, getting the votes to change the board constitution is near impossible. The prospect of a takeover however, is a real possibility.

Those shareholders that are really in this company have been for the long term and know its history.

Surprisingly, there is still a live link to the "Charters Towers Gold Mines Ltd - Equity Profile document" prepared by Concept Equity, a Licenced Security Dealer back in 2002. They were paid by CTO to prepare this document.

http://www.citigold.com/downloadablefiles/ct_profile.pdf

I certainly relied on this information & I'm sure many LT holders did to.

Those that wish to read CTO's spin back in 2002 will find it interesting.

http://www.citigold.com/downloadablefiles/ct_profile.pdf