CTO citigold corporation limited

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I guess the fact that Henty is scheduled to close in 2015 is the...

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23/12/14

11:58

Post #: 14500813
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Originally posted by boles ↑

I've been following a number of small gold producers and their struggles to survive. I just compared CTO with UML (Unity Mining Ltd). Both have (had in the case of CTO) producing gold mines. CTO pruduced gold out of Warrior Mine and UML out the Henty Mine in Tasmania which is scheduled to close at the end of 2015. Both have mining and exploration leases over traditional huge gold producers UML at Bendigo, Victoria and of course CTO at Charters Towers. Both companies have had trouble raising funds from large investors and hence are really struggling now. Now the difference comes. Henty has produced 1.3 million ounces in its 17 mine life and produced over 38,000 ounces of gold in FY 2014 compared to CTO's Warrior Mine which in under 8 years only produced about 63,000 ounces of gold and recorded only 2806 ounces in FY 2014. Although both companies share prices at the beginning of December 2013 were very close to 5c, CTO is now at 1.4c whereas UML has dwindled to 0.6c The management of both companies has been heavily criticised in HotCopper. Does this say that the management team at UML is worse or that the team at CTO are the better bullshitters? My thoughts only. DYOR.

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I guess the fact that Henty is scheduled to close in 2015 is the reason for its share price and as far as management goes your comment about CTO may be better termed as better promoters / salesmen. They believe in what they are selling and nothing will change their belief it seems.

DYOR My thoughts and ramblings only

CTO Price at posting: 1.4¢ Sentiment: Sell Disclosure: Not Held
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Last 0.3¢		Change 0.000(0.00%)		Mkt cap ! $9M

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