Sorry this response is a bit late. They cannot mine gold for an extraction cost of under $500 an ounce or even under $1000 an once. I'll give you this example. If memory serves me correctly they mined gold in CT between 2006 and 2013 and I believe they only made a profit in one quarter in that entire time. This was often high grade ore and relatively easy to mine. Also, CTO do NOT have all the permits in place. Read my previous posts. I believe there is no permit in place to mine under CT because they have nowhere to put the waste unless they dump it underground. My thoughts only. DYOR.
CTO History > Major funding negotiations >$$$, page-108
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