an open message to citicorp, page-5

Mr Sism

I reckon most juniors are a lost cause anyway... all that glitters is not gold as they say.

CTO actually intends to pay dividends at some stage - so the money won't go into developing other remote deposits and just disappear in servicing debt and massive cap-ex costs (like most other gold juniors).

I liken the Western Decline to a large new highway being developed and the "drives" as the new streets that'll run off it, that will ultimately lead to the new house lots (the ore body) via the stopes (driveways).

the power upgrade has allowed CTO to build a larger housing development - so being larger it will take time and will ultimately access more houses - it stands to reason.

It's about later this year and next year, I'm prepared to wait as long as CTO doesn't give up.

and even if it does (i don't think it will) this proime project has to be worth something to someone.