The lack of capital to invest is supposedly the problem hence them trawling the world to try and find an investor / equity partner to stump up the funds required to move forward. Aside from this they are still trying to understand the deposit and are still working on the system to look / predict what is between the drill holes. I would not expect to see any big improvement if at all till at least end of this year.
"Citigold's quest to use specialist geophysics to ?see between the drill holes" is gaining momentum and clarity via modelling is emerging.
"The next few months will continue to advance this and the geological team are confident of a successful systematic method being developed by mid 2011."
I do not think that any serious investor will stump up with a major investment until "the method" for seeing between the holes is proven on site. A quest is one thing its the results that matter.
I have often asked myself ever since CTO commenced the warrior decline that if they have the 10million oz JORC resource and are ramping up to 300k ozs per annum why has there been seemingly no interest from the big players in taking this over very cheaply.Perhaps the actual cost to recover the gold is uneconomical.
DYOR My ramblings and thoughts only
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