I don’t believe it was reckless spending. I think gold will move higher this and next year as global markets hit uncertainty. Which then we should see CTL skate out of financial dilemma.
I don’t like the possible dilution either but if it means we still have a company as opposed going to admin. then I am for it. It is a bit worrying that we can not secure a loan at better terms as opposed to the massive dilution.
Anyways, I still believe that management are doing best they can as they have skin in the game too.
Maybe a pay cut should be on the cards until the company is in a better position.
CTL Price at posting:
0.9¢ Sentiment: None Disclosure: Held