Ann: Trading Halt, page-59

Hi Vontader,
At the Mombuca gold project, I think it took CTM about 14 months from securing the tenement to commencement of drilling. At Serra Misteriosa, I think it took CTM about 8 months from securing the lease to commencement of drilling.
If the second Salobo West lease SW11 (still waiting on DNPM), is awarded say early Aug, CTM will undertake various geotechnical studies (probably already started) including field work, followed by a possible airborne geophysical survey and then focussed ground surveys over their most-prospective areas. In my view, I believe drilling at Salobo West will commenced around mid-2018 unless CTM can fast take their geotechnical studies and geophysical surveys.
This is just a guesstimate, as CTM has not released any details of their forward technical program at Salobo West. If my guesstimate is anywhere near correct (and I doubt it), I think the CTMOA options (30-04-2018 expiry) will depend only on Serra Misteriosa. Hopefully the heads and options will get a favourable nudge if CTM are indeed awarded SW11.
I’ve been keeping a rough schedule on CTM’s progress and am happy to share this below.


Please note: This post is my own opinion and readers should do their own research before undertaking any investment decisions.
Kind regards OldGeo