CTO citigold corporation limited
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re: Ann: Citigold on Track with Production Fo... Plough, may I...

  1. rowingboat
    3,439 Posts.
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    23/05/09
    15:51
    Post #: 5197336
    re: Ann: Citigold on Track with Production Fo... Plough, may I suggest you phone Chris Towsey. I did and while I wasn't able to take notes unfortunately, my recollection of our conversation is that Chris anticipates ~20,000 oz production at Warrior for every 150m of decline development. The decline costs ~$5m per kilometre ($750,000 for those 150m) plus another ~$1m to develop the drives (assuming 5 levels 100m long). The gold panels or "pods" are 50-80m high. By mining WS19, CTO will have sufficient cash to keep advancing the decline and maintain development ahead of production. I just so happen to trust the bloke.

    Rowingboat.
    CTO Price at posting: 18.5¢ Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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