Ann: $50 Million Investment in Citigold to Fund D, page-19

re: Ann: $50 Million Investment in Citigold t... Quite an interesting thread. I've never traded CTO but i have become interested in this once promising stock mainly due to the chart looking attractive recently, bouncing off the 6c base line and rallying. A penny gold stock that has the potential to bounce back is always appealing... but after reading all the posts, something definitely smells fishy?

For starters, Citigold is a subsidiary of Citigroup, the largest wealth managment, banking, financial services group in the world based in Manhatten. These top dogs are on par with the most corrupted guys on the planet. I wouldnt believe a word they say. 4th richest man in China sinks 50M into the company?? He probably just needs to park his chump change into something that i am sure he will get many benefits from.
amer also made a good point about the last 100M that was invested, doesnt look like it went anywhere.

The strange part for me is that the stock rallied on virtually no news other than the "imminent funding announcement", then once the news is released on the 23rd the market sells...? Sounds like picture perfect Wall Street propaganda to me!
And like Champ said, for a gold stock to go down 6% on one of the most bullish days in a long while for precious metals is enough to say it all.

Thanks guys, you have helped heaps with my conclusion...
I wouldnt touch this one with a stick :)