asic slaps citigold for output forecasts, page-5

Interesting that the fine is partly because cto revised thier production for 2010 from 85,000 to 50,000...

I am almost certain that cto will not achieve 50,000 ounces for 2010!!!!!

Here is my common sense: The company always claims that the low production they have is due to a temporary technical problems. This could be true for one year, or two years, or three years...or you know what...this could be true for 4 years...but for 10 years? Without being a mining engineer, I am reluctant to believe that it is more likely that this is a poor mine and it is not due to a "temporary technical problems".

It is possible that this family is obsessed with this mine and obsessed people do not take rational decisions. My only problem is that you and I (the poor guys) paid dearly for the obsession of rich people and they got richer! The directors are making good money regardless of the production rate.

That what bothers me most and this is the reason I am writing this post.

By the way, in many cases cto constructed the spp in a way that each shareholder pays 5000$ regardless of the number of shares he has. To me, this is a dirty trick but tired to elaborate on this.

Have a nice weekend,
Amer.