find8, I think thats exactly where CTO are headed - mid tier miners. Once they start producing over 10,000 ounces per quarter that should equate to a cash flow of ~$5M per quarter reinvested in development ($1200 per ounce sold = $700 per ounce production and admin + $500 spare for development). In total this is significantly more than they are currently spending on development and so developemnt, hence production should grow at an ever increasing rate.
CTO Price at posting:
17.5¢ Sentiment: LT Buy Disclosure: Held
