LOL Lockitt and g'day, I've never been a holder of CTO, and going back couple of years, I had never even heard of City Gold, but that was until one day I was visiting a goods supplier of mine, and was having a chat in the workshop to a few of the boys and one of the apprentices, a 19 y/o, asked me did I know anything much about the share market. I told him I had been an investor for about 30 years, but I don't give advice because I know nothing, but I will give an opinion if asked. He asked me what stocks I had and I told him, but didn't reveal quantities.
He proudly announced that he had bought shares in GNS & CTO and he asked me what I thought. I said that as far as GNS goes it's a 50/50 imo, but as for CTO, I don't know anything about that co. So a few days later I decided to have a look, on the off chance he might be on to a future winner. And well, I'll be buggered, it appeared to me that this mob would have to be one of the worst "investments" he could touch!! When I saw him next, a month or so later, he asked me if I checked out CTO....I said yes, I did, and he asked me what I thought and I told him I wouldn't touch them with a barge pole, and that there were hundreds of other small goldies on the market that would be much much better that this lot. I never advised him to sell, but I sure did make it clear to him that CTO didn't tick too many boxes for me. I don't remember what he paid at the time, but could have been 30/40/50/60 cents, or even more! I haven't seen him for quite a while now as he has changed employment, but I do hope he sold at the time. Yep, poor buggers, the s/h have been lied to and shafted for years by this mob.
Cheers from Tassie.
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