Ann: $30 million Exploration Joint Venture Agreem, page-2

re: Ann: $30 million Exploration Joint Ventur... All,

This is how I see it.

I don't actually mind the Cinese doing exploration because I mentioned in another post some time ago that CTO had huge lease obligations and why take them on. So fair enough, that problem has gone away. I can't see any negatives for now if it is consumated, and 50% of anything is better than nothing, - EXCEPT for the exact sitaution my shares are in!!!!. Other than that the JV is ok I think. maybe, one day, who knows, never. It is neither here or there for now, but may be worth something eventually.

The more important is that negotiations continue on the City Area. The City area is not the current mine operations. The City area was supposed to negotiated a while ago, and either someone has cold feet or second thoughts. Again it is a side issue because there is only a potential cash flow royalty from gold produced and some sheckles for using the existing processing plant.

Cold feet or not, it will be a benefit if it happens. This second JV is sort of ok. Its no company maker. What it is, is other peoples money and risk taking to generate some $ for CTO to sustain the Imperial Mine. Nice to have if it happens and may help with getting some of the $40M needed to properly open up enough mining faces. But it won't make any significant impact for at least a year, unless the deal has some upfront payment, and that could be a reason for the dragging on of this JV.

And in our mine? Cashed up guys all around us, fired up and talented in CTO's own words. Meanwhile back at the ranch same ole, same ole.

..yawn.