In August 2006 CTO made ASX announcements titled "Warrior Approaches Gold" and "Warrior Intersects Gold Deposit." We were given confirmation that "Citigold has the ability to produce gold from the Warrior mine at the budgeted rate of 40,000 ounces per annum." lol rofl
CTO hit 58 cents in August 2006. Gold was about US$600.
CTO closed today at 12 cents. Gold is US$1327.
We've had years of miserable gold production and dismally failed gold production guidance forecasts that are now no longer provided. Surely this should tell us something?
How come some people are still making excuses for this disastrous ASX performer that has crashed in value by 80% while the gold price has increased in value by more than 100%?
Nothing more needs to be said.
CTO Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
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