CTO citigold corporation limited

Ann: Quarterly Activities Report and Appendix 5B, page-15

  1. 664 Posts.
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    yep. I’ve said it before on these turgid pages, this thing could be a reliable 50kozpa producer in the right hands. I can’t opine definitively thanks to the fanciful nature of the “resource” estimate (have ya read that bit in the JORC Code that prohibits factoring, yet, Chris?). First thing I’d do is a coherent Mineral Resource estimate and plan some drilling - assuming ya can drill effectively beneath the town. Then I’d look at the limitations of the mine plan - ventilation, haulage capacity and development rate against oz per vertical metre. Then the fun bit - building and licensing a mill. Ya know, a proper Feasibility Study, just like in the JORC Code. $8m for phase 1, $2m for phase 2 and $200m for phase 3.

 
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