Ann: Quarterly Activities and Cashflow Report , page-8

gongboy, if you give CTO a call they are only too happy to talk to shareholders who are genuinely interested in the company, rather than the whingers and complainers that seem to post here...

they originally had funding lined up from dubai, however with the GFC (let alone the problems in dubai a la near collapse of the state owned Dubai World) they lost that funding. since then, they have been looking for a major investor to support mine development.. which, as EVERY junior/mid cap mining company has found of late, is very hard

they are not interested in selling the resource, they are adamant on developing it themselves as they want to realise the full value... plus they already have built most of the infrastructure they need. why give the thing away now when so much work has gone into building and planning for a large operation??

they have been courting this investor for a long time, and finally got him over the line... it's a real milestone for the company; a big turning point.

having been in CTO for a a few years, i am very happy to see we are beginning to make some real, genuine progress