Unhedged posted:
"Does anyone really see any hope of a share price recovery here, ever? What could create this recovery? Loads of gold? They already have that. So what?"
My comments:
All CTO has to do is deliver on what CTO has chosen to tell us in its June quarterly. Now of course that should be easy.
After all if CTO believe they cannot deliver on the following then of course they wouldn't have told us they can.
Here are some extracts:
"2009 production plan on track for 25,000 ounce (‘oz’) gold."
"Citigold released targets in the March quarter 2009 that projected the Warrior Reef to be operating at a rate of 60,000 oz per annum by the end of 2009. This ramp up in production is the result of many years work by the dedicated mining, geological and corporate staff employed by Citigold. The Company’s aim is to become a profitable gold producer that has the ability over time to create significant shareholder value.
It has taken the Company many years to get to this stage and ... Citigold stands on the cusp of becoming a cash flow positive gold producer..."
"Now that the management team is confident it has a first-rate understanding of the deposit, they can advance the ramp up in gold production on a solid foundation that will gradually result in increased shareholder value. This Company is built for the long-term benefit of shareholders whether they joined us recently, five years ago or at the very beginning.
As fellow shareholders, your Board and management are focused and passionate on the business of unlocking the value for all shareholders. We believe the upside value is
enormous and have no doubt that the Charters Towers goldfield can support a large gold producing business for decades to come."
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