CTO citigold corporation limited

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Ann: Quarterly Activities Report and Appendix 5B, page-11

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05/05/20

13:43

Post #: 44442259
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Originally posted by Necdet1 ↑

8. Estimated cash available for future operating activities $A’000
8.1 Net cash from / (used in) operating activities (Item 1.9) (93)
8.2 Capitalised exploration & evaluation (Item 2.1(d)) -
8.3 Total relevant outgoings (Item 8.1 + Item 8.2) (93)
8.4 Cash and cash equivalents at quarter end (Item 4.6) 9
8.5 Unused finance facilities available at quarter end (Item 7.5) 243
8.6 Total available funding (Item 8.4 + Item 8.5) 252
8.7 Estimated quarters of funding available (Item 8.6 divided by
Item 8.3)
2.71

If you take $93k ((8.1) from $252k (8.6) estimated cash available for future operating activities would be only a modest amount of $159k. CTO soon once again will be resorted to borrow externally if possible &/or raise equity - which I think would be difficult this time round because CTO cannot transparently demonstrate what the Management is doing to find external partners which would operate the mine. In the ASX report it outlines that CTO management favours to outsource the operation of the mine and that CTO is actively seeking such an external "partner", but falls short of discussing who they are, only because there are no advanced stages of discussions with these "potential partners". Unless, the directors of CTO can successfully utilise, high gold price, to entice appropriate external "partners" quickly, then unfortunately one can only sadly assume a grim outlook for CTO; these disappointing delaying tactics cannot be tolerated anymore.....I am calling on the directors of CTO to make a concerted and an extraordinary effort to find a suitable external "partner" so the gold can be mined by a suitable outsourced mine operator.

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Is this tongue in cheek or are you serious, if you are serious I wish you good luck with your call to the directors.
They are good at mining money, other peoples IMHO.

DYOR My thoughts and ramblings only
Caveat Emptor

CTO Price at posting: 0.4¢ Sentiment: Sell Disclosure: Not Held
3 Upvote

0 Great analysis

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