cto investors have missed the gold bull ...

CTO hit 58 cents in the week ending 6th. August 2006.

That's when the market probably believed CTO's immediate and future gold production guidelines. Check CTO's ASX reports around then and you should see what we mean.

For example:

"Warrior Pushes Towards Gold" released on the 20th. July 2006, where we were told that production would initially be "at a rate of 40,000 ounces per year." There was talk about CTO's second gold mine and production of 100,000 ounces a year and operating costs of A$250/ounce.

Pity any long termers who paid 58 cents for CTO then. Gold was then around US$600.

I'm sure investors in CTO would not have imagined that three and a half years down the gold production track with gold having approximately doubled in US dollars that the CTO share price would have lost nearly 80% of its value.