Ann: Additional Reefs Planned in 2009 , page-65

I think CTO expected funding to come their way a lot earlier and made some calls that now make them look really bad.

the Dubai group has now provided the necessary funding... and things are turning around helped by the power upgrade.

so is it wise to now jump off CTO, when it's finally all starting to happen .. we have 2 stopes producing now and more stopes are being planned .. we should get to 4 or 5 stopes at the end of this year.

There are risks now with only 2 stopes of inconsistent ore - the chance of hitting some low grade stuff too, so the road ahead could be bumpy... until we get to 4 or 5 stopes.

However we should have a significantly increased production this quarter over the last quarter (when we only had 1 stope producing).

We have the chance for Low cost gold or we can go for higher cost producers such as OGC, SBM that are producing 100,000 oz/annum or 200,000 oz/annum and losing money whilst depleting their valuable gold resources.