changes to cto board

What could work is this ...

An Open Letter to Management expressing views of Shareholders based on past promises and performances. Just facts sans emotion. In this letter, demand the resignation of Foley and the appointment of an independant 3rd party Board Member in his place (I can think of someone straight away who I would trust and believe has the intellectual power and in depth knowledge of the inner workings of CTO to keep them honest ... he is well known to the gold community [but knows nothing of this] ... he may not even be interested).

This would need to be backed up by identification of singatories ... we would need a lot of them.

So, how would this work??

1/ Perhaps get an email list of interested parties that would initially contribute to the drafting of the Letter. This could be done by publishing a throw away email address on this Site so that each interested party could make themselves known to each other.

2/ Once the Letter is drafted, contact possible replacement Board Members to guage level of interest.

3/ All contributing parties would then email/contact their circle of Shareholders encouraging them to put their name to the document (and ask, that they in turn, do the same). Hopefully a viral effect. We would probably need (at least) a running tally of consolidated holdings to guage the impact this is likely to have ... this would mean that 1 Member would need to collate individual Shareholdings to arrive at the total.

4/ If we get the numbers, we formally present the letter to Citigold (or the ASX??) together with a list of Shareholders that have "signed off" on the resolution. Yes, that does mean coming out of the safety of an anomynous Internet Forum.

Look,I (for one) am sick and tired of the smoke and mirrors coming from Management. It HAS to stop. This appears to be a good Asset .. if it's not, then I DO NOT WANT to continue paying Mark Lynch hundreds and thousands of dollars a year for flogging a dead horse.

I think this might be a good start IF the Dec Quarterly production figures of 15,000 oz are not met.

Comments?