Penny drops...They have 10 days after they receive flow-testing...

Penny drops...

They have 10 days after they receive flow-testing data to drop the project or confirm the drilling of Atzam #5.

When they do they will need to arrange finance.

If the above decision is based on good flow rates (minimum 200bbls/d as indicated by CTR), then the stock has every reason to rise to levels commensurate with the inherent value of the project.

This would be good for shareholders as finance raised at higher prices will reduce dilution.

But, this would not be good for those wanting to gain a significant exposure at current levels, to what looks to me like a valuable asset severly undervalued.

One might suggest the delay in reporting flow-rates falls into the lap of those currently taking up the various share placements and strategic equity interests in CTR...all of which seem to be focussed on 2c per share...the price at which a sledge-hammer appears to knock it on the head every time a heartbeat of life appears.

In effect the stock is being "held" in place by someone clearly with lots of shares to sell...one assumes with the knowledge they can replace what ever they sell via participating in the ongoing placement?

A bottmless cup of shares as it were...sell more...and more...whatever it takes to keep the stock low...then print and replace.

The Company may well have no control of this.

This is a tragedy for shareholders, who it appears are having the value of their exposure to the Guatemalan assets stripped from under their feet at severly depressed prices = undue dilution.

On another issue, I find it amazing that CTR could "borrow" $2.7m from Range and not mention it in their accounts prior to this month...and equally amazing that Range could advance said funds to a third party also without disclosure to the market until well after the event.

It is unclear when this actually transpired, but given the well has been sucking up CTR's funds since July last year, I assume the money was not simply provided this month?

Would these sorts of transactions generally be considered material events...I can only assume, because we did not know about them, that they were not?

I know if I were investing in either Company, I would want to know about such a large transaction relative to the respective market caps of each.

Cheers!