fact

Sidr, you don't need to visit the mine to see CTO have underachieved. I know your a little touchy on the downfalls of CTO. While I'm not saying this is a buy or sell, I have worries about managements goals and achievements.

I had a quick look at the yearly reports.

Year 2000

Goal 250,000 ounces
Production 0 ouces

Year 2001

Goal 250,000 ounces
Initial aim base of 50,000 ozs with two years increasing to 100,000 ounces
Production 0 ounces

Year 2002

15 million ounces of gold resource potential.
Goal 250,000 ounces
Resume gold mining in 2003
Initially producing 10,000 ozs and building upto 250,000 ozs in 5 years.
Production 0 ounces.

Year 2003

Goal 250,000 ouces
Producing 0 ounces

Year 2004

Gold production is planned at 40,000 ounces per annum
Goal 250,000 ozs
Production 0 ozs

Year 2005

Probable ore reserve 330,000 ounces
40,000 ozs scheduled production, 250,000 over 5 years.
Production 0 ounces

Year 2006

This coming year we are targeting full production of 40,000 ozs and the commencement of development work on the second phase which will take production rate to 120,000 ounces per annum, building to 250,000 ozs.
Production 0 ounces

Year 2007

Initial goal of 100,000 ounces a year to 250,000 ounces long term goal.
50 million mineral resurce
Production 0 ounces

Last quarterly 2008

Gold production 3,913 ounces
Citigold is advancing discussions with appropriate providers for the long term financial funding to accelerate the expansion of the mine above 50,000 ozs
per year to 250,000 ounces yearly.

Why would we believe any of CTO production projection targets?

They clearly need a major cash injection. They have only $2-3 million in cash. Where are they going to find this? (Please don't answer with self funded)

Saying 50 million ounces is ridiculous. If any major thought they had that for a second, they would no longer be CTO.

Tell me why I would put my hard earned cash into CTO.

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Fact and they will need a cash injection soon, how deep are your pockets?