I presume you got your heading from the approx 10 million ounces CTO rave about then multiplied it by the approx gold price of $AU1500 per ounce. Has anyone bothered to look at where this gold is meant to be lately? I got the following inferred resources off CTO website for announcements in 2012 for future reference for all you punters.
Column 1 Column 2 Column 3 0 CENTRAL AREA 1 STRUCTURE STRUCTURE NAME OUNCES 2 C01 BRILLIANT WEST 185,232 3 C06 BRILLIANT EAST 438,763 4 C17 DAY DAWN 167,490 5 C03 QUEEN & SUNBURST 729,082 6 ..................... TOWERS HILL CROSS REEFS 1,012,520 7 C28 No.1 CROSS REEF 253,130 8 C06 ,C23 ST PATRICK & COLUMBIA 1,563,435 9 ..................... CROSS REEFS 10 C09 WELLINGTON 421,883 11 C05, C11, C12 IDENTITY, RUBY, LADY 1,265,649 12 ..................... FLORENCE 13 TOTAL ......................................... 6,037,184
Column 1 Column 2 Column 3 0 SOUTHERN AREA 1 STRUCTURE STRUCTURE NAME OUNCES 2 S01 BLACK JACK 421,883 3 C30 CLARK'S MOONSTONE 253,130 4 E06 HIDDEN SECRET 632,825 5 E07 IMPERIAL 843,766 6 S03 MERRIE MONARCH 421,883 7 S04 MT CENIS 210,942 8 E06 SILENT FRIEND 421,883 9 E03 WARRIOR 843,766 10 E01 & E05 WASHINGTON & 632,825 11 ..................... SONS OF FREEDOM 12 TOTAL ......................................... 4,682,903
I don't believe any of these figures. For example Warrior is meant to have 843,776 ounces remaining in 2012 but was worked out in 2013 after only 60,000 ounces!! The structures CTO talk about accessing from the Central Decline, that is Brilliant East, Brilliant West, Sunburst, Queen and Day Dawn have a total of 1,520,567 ounces on these exaggerated figures not the 11 million ounces so many of us rave about which includes the Southern Area. I don't believe any of the Southern Area resources will ever be accessed unless there is a huge increase in the gold price. DYOR. My thoughts only.
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