Maybe us holders that have been burnt just post to give some balance and point out the chronic under deliverance of CTO. I agree on paper at a first read of the readily available info on the website it looks a great buy. Then reality kicks in and on a more in depth investigation you discover the company has in reality gone backward in production and diluted itself severely over the last 2 years . The company has given a couple of red herrings as to why this has happened. What i would like to know is why when 2 years ago they were producing 4000 odd ounces a quarter for a couple of quarters and forecasting more why they have gone backwards in production . One thing is for sure they can,t use the power upgrade excuse anymore. How many working stopes have they now got??? , they have been promising extra stopes now for years also, It would appear from my point of view that the gold they thought was there in warrior is not there or not easily extractable.OF course to come clean with a announcement stating that would mean the end of CTO. Also where is mr citigold himself who said he would pop up from time to time and try to answer a few questions.(who i would have no doubt still views the cto thread) Are some of the questions on this forum a bit to close to the truth to answer.I would think there must be a few knowlegable CTO holders that know a thing or to about under ground gold mines that live not to far from charter towers, if i was one of them i would be asking for a site visit and tour of the underground operations.Of course a few beers at the miners local watering hole would probably get the same info.
Add to My Watchlist
What is My Watchlist?
