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One has to wonder why you would be wasting money flying in...

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D1326

651 Posts.

178

10/04/19

18:43

Post #: 38085291
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Originally posted by sainters: ↑

I believe Gandel called in the administrator 4 hours after not getting his money paid. Probably had a gut full, his offsider (gray) on the board should have known what was going on or he is incompetent, especially if he is a geologist.
The administrators have told the mine to produce 500 tonnes per week at a grade of 8g/t, only using airleg miners.
CTL owes money all over the place, to people in Woods Point, Mansfield and Maldon. Slingoes is owed well over half a million.
Very ugly situation and real shame.
Monthly admin costs were so high each month as they were flying in miners and senior staff from all over Australia and renting houses in Woods Point and Jameison for them. They employed way to many people for such a small operation.
Maybe AUL who are mining in Woods Point and have a small mill may want to buy the A1.

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One has to wonder why you would be wasting money flying in miners and senior staff when the company is bleeding cash......either incompetents or deliberate

CTL Price at posting: 0.9¢ Sentiment: None Disclosure: Held
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