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0.4¢ citigold corporation limited

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kymat

302 Posts.

5

06/11/15

00:41

Post #: 16336387
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Originally posted by elphamale ↑

Whereu,

Don't worry about CTO. They've been promising the market that they would become a be 300koz pa producer for over a decade now, so when the cash runs out in 5-6 days time I reckon they'll increase that promise to 400koz, just for sh.ts and giggles (as well as to try to tempt more suckers into providing funding for their salaries and unrealistic dreams).

Dear management, how about trying to gain some credibility by becoming a profitable 50-100koz pa producer first? Oh hang on, I believe that you tried that idea some years ago, but that failed didn't it.....
Your solution? Don't worry about the fundamental issues, let's tell the market that our you beaut technologies will solve all of our problems. If we aim for the stars (skip the junior producer phase) and maintain our dream of a becoming mid-tier producer from ZERO production and $76k in cash (lol) then it will just magically happen and the market will be so pleased with us that investors will be throwing millions our way, just to get a slice of our +10 million oz carrot that we have successfully dangled for so many years.

Honestly, who in their right mind would hand over $70 million to these clowns when you have a squiz at their track record? I held shares about 10 years ago, then sold them promptly when I went through all of their past statements and realised that they had constantly failed to deliver on their stated objectives.
Apart from a few heads coming and going in years past, nothing much has changed with this mob IMO. My late father held a strong belief that CTO would come good during his lifetime but the value of his shareholding was obliterated in his final years. Good one CTO!

Unfortunately this company as it stands doesn't have a hope in hell with a traditional bank or financier to provide the necessary funding it needs. Due to its poor track record and unproven / unorthodox methods, it has to resort to negotiating with unusual (dodgy?) foreign entities where things always seem to go wrong at the eleventh hour.. no surprises there.

History can be a great teacher if you study patterns and behaviours closely enough. A leopard never changes its spots.

All IMO of course.

GLTA

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CTO Price at posting: 2.0¢ Sentiment: Sell Disclosure: Not Held
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