What is CTO raising the money for ? .. a higher production rate ?
The more they produce the more they will lose !
We know the total costs are $3,022/oz ..
Let's make the gold price $1722/oz to help with calculations.
So
If CTO produces at 10,000 oz it'll be losing $13 mill/annum
If CTO produces at 100,000 oz/annum it'll be losing $130mill/annum.
The narrow veins means this is an unviable project - plain and simple !
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