Kosenar,I had overlooked the email you had posted from the CEO....

Kosenar,
I had overlooked the email you had posted from the CEO. If the 10million oz is a fact as he says I cannot imagine that a much larger company has not made a takeover bid considering the company is currently capitalised at $80 million, a bid at say 14c/ share a 75% premium at current price would make this an absolute bargain. The right management and mining team in place could get the investment back in 2 years!! The question I have is why has it not happened?

If as he says "ownership of the gold is the key and where the value sits." obviously that gold is fools gold because the perceived value of the gold in the ground is not and never has been reflected in the share price."

Got to love this line "The mining is a mechanical process that will flow" and here I was thinking mining was a manufacturing process, well I'll be and the JV model possibly could raise $70mill!! So what happened to the $18mill spoken about 7 weeks ago?.

I would be very upbeat and excited about the future too having been scratching around in the dirt for 10years or so and still being able to mine the pockets of investors and shareholders to keep my fridge full while saying things will be getting better in the future!! He must be talking about my grand childrens future otherwise I will have to go back to the future.

In my opinion the CEO is to close to this business, it is a family baby that has been nurtured for years but it keeps failing to put the runs on the board.

I believe a JV is what is really needed however I think the management are concerned they will lose control as the JV partner will want seats at the boardroom table. Perhaps management should give Mr Cudeco a call and get a few pointers on running and promoting a company as he seems to have Australias biggest copper resource and Citigold have the largest high grade gold resource in Australia.

My ramblings only, DYOR.