I think CTO and GML could make a nice fit.
But CTO has a price in mind and won't want to overpay.
GML -
- has good geologists that CTO sees as an asset.
- is self funding.
- has some highly prospective greenfield opportunities.
If CTO succeeds -
CTO would concentrate on gold production and would offer GML a chance to explore its gold tenements around Charters Towers and to share in the discovery of more gold - and to thus further expand its gold resource at virtually no cost to CTO.
So a brownfield opportunity for GML - GML moves away from being a pure explorer to one with a good chance of finding a gold resource in a proven gold field and thus secure a future for itself.
I think CTO and GML could make a nice fit.But CTO has a price in...
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Change
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Mkt cap ! $15M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.5¢ | 0.4¢ | $2.403K | 600.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 12795566 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 1997361 | 7 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| CTO (ASX) Chart |