All,
I am so glad these Indian guys turned up. Gave me a good opportunity to dump a bucket load at a big loss without fiddling around over a few days to get rid of them. Phew.
I came to the conclusion the CTO can not mine this resource. There may be gold there but unpredictably, they are mining into extremely hard rock, which is extremely tough on gear, CTO still haven't finalised a mining technique, though the one they propose means they have all the wrong equipment, the brainiac mathematician is taking his sweet time to report, so I assume the down hole inductive polarisation technique that was to locate pods, must be damn difficult to deduce from..meaning not obvious, meaning we still don't know where the pods will be.
Hanging from the finger nails financially. Chinese were supposed to be doing a deal...when you are in trouble and a Chinese business man knows you are in trouble, you are in more trouble - so expect that story to spin out a while longer yet. The only saving grace is that China wants gold and the Chinese guys may have access to money burning holes in people pockets, but I don't know why the Chinese don't step back after dragging the chain as long as possible, then make a 20c offer for the lot. By that stage the blocking share holding from the Lynch mob will be under pressure, because they'll know they have run out of options, because there will only be one Chinese bidder, and CTO are out of cash. Then you would have a Chinese owner and another Chinese outfit exploring the surrounding. Classic pincher movement. Why would any outfit want to buy into current management and let CTO Board and management continue to run things???
I can't say its been fun. Call your own shots guys, but that is how I see it.
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