accountability, page-3

Re "All projects require forecasts". This has been a problem for cto for a number of reasons:
1) Only up until recently have they obtained funding, so before that it was risky to make forecasts... because until the deal is signed the proposed funder can pull out, or make 11th hour changes in their favour which cto would have to accept, or terminate and look for another funder. But the deal is done so this reason no longer applies.
2) Perhaps due to their own eagerness, or from pressure from impatient shareholders, cto made forecasts when they should not have ie before funding received. I understand cto have acknowledged this gripe, and make much less forecasts (for now).
3) All than can be forecast now (in terms of when gold production will accelerate) is that it can take up to 6 months from when money is obtained (done) and the face is started (yes), to when richer ore is extracted. However, several faces can be worked on concurrently which is big plus.
4) When the gold production ramps up (and the shareholders are all happy chappies), cto will be able to make more accurate forecasts.

Also, for the first time, cto has got money, and the bulk of 1st $10m went in machinery, and bulk of next $15m will be actually getting the faces developed... so it won't be "burning the cash" as a previous poster asked.