re: Ann: $50 Million Investment in Citigold t... Abra,
We have many reasons not to believe CTO.
Here are a few negative things regarding the deal:
1- It is $25M and not $50M.
2- The second $25M are convertible notes which are more like a loan.
3- It does not matter how much money you invest, a poor mine is a poor mine regardless of the money u spend.
4- CTO already invested more than $100M and only gets around 10,000 ounces per year (3% of what they promised). What make u think the next 25M will work?
5- We, the regular people, hate people who do not live up to their promises...
Ann: $50 Million Investment in Citigold to Fund D, page-9
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