Ann: Full Year Statutory Accounts, page-13

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11/10/19

15:29

Post #: 40839671
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Originally posted by Necdet1 ↑

in the financial report for the year ended 2019 it states:
*Major project funding discussions actively continued with potentially interested strategic
partners to expand Citigold’s production-ready Charters Towers Gold Project.

Questions - who are these potential strategic interested parties? Why haven't these strategic partners taken any concrete step forward? We have for years been advised of the same thing - strategic partners etc, etc but it just stops there no further activity...

I have spoken to colleagues who are active investors/traders in the ASX and I've been advised that a company like CTO must produce a comprehensive Bankable Feasibility Report (BFR) otherwise it's "sailing up the river without a paddle" so to speak.

An in-depth comprehensive BFR can cost circa $100,000. Is CTO willing to spend this? If not, why not?
Otherwise, any interested party will need to do a BFR themselves at their own cost, which is what CTO should have done in the first place; and this I think is a major stumbling block in attracting serious funding partners. Time for CTO to seriously consider obtaining a comprehensive BFR; this is a must going forward. Such a report will also confirm and send a strong message to everyone - a concerted effort and commitment from the directors of CTO.

What is a bankable feasibility study?
A business owner or manager who has an idea for a major project would be unwise to commit time and money to it without carefully examining whether the project is feasible -- that is, if the company can actually pull it off. And if the business expects to raise outside money to pursue the project, it should prepare a bankable feasibility study.

Feasibility:
A feasibility study is an in-depth examination of a project's potential for success. Its goal is to determine whether the project is even possible with the resources the company has, whether it will generate sufficient cash flow to justify its cost, whether it will remain viable for the long term and whether it's a good fit with the company's mission and other activities.
Bankable:
A feasibility study is "bankable" if it has been prepared in enough detail and with enough objectivity that the company could submit it to investors or lenders when seeking financing for the project.

As a shareholder I am asking for transparent activity and commitment to secure adequate project funding by the directors of CTO.

Expand

Wish you the best of luck with all that, the only thing that has been bankable over the last few years or more are the funds going into the accounts of those that apparently are running the show. The management team say they have an in depth understanding of the resource so maybe they can take that to the bank!

Give the CEO/Executive Chairman a call and run it by him see what he has to spin / say.

DYOR My thoughts and ramblings only

CTO Price at posting: 0.6¢ Sentiment: Sell Disclosure: Not Held
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