CTO citigold corporation limited

For an open pit gold mine where you just dig it out and process...

  1. 265 Posts.
    For an open pit gold mine where you just dig it out and process it .. 1g/T is still only marginally profitable even at today's gold price.....and even then you still need some scale and maybe 100,000oz/year plus to get anywhere.

    For an underground miner - where you're mining in dribs and drabs and under very difficult and restrictive conditions (such as CTO, BCD etc.)... with stopes to develop, tunneling, ventilation, reinforcement, stop/starts etc... you may need to achieve an effective grade (after all the tunneling and resultant dilution)of 2g/T ? I'm guessing to have any chance of making a profit... and it's very hard to get a reasonable production scale anyway mining underground with narrow veins.

    If you have 5 metre wide veins - there's a chance of getting somewhere.

    Bottom line ..
    CTO has been producing for a while and has gathered all the actual data- so it should be able to state the effective yield grade that it has managed to achieve.
    CTO does not need to theorise about g/cubic metres or g/T through complex modeling and polygrams (or whatever complex methods it chooses) - when it has the exact actual figures at hand.

    I'd be demanding, if I was a shareholder, to finally know what these figures show - the effective g/T achieved thus far.
    We know this is not a profitable mine, BCD has similarly not been a profitable mine and the common denominator is the narrow veins - difficult underground mining and dilution.

    Maybe that's all we need to know.









 
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