I found this snippet on CTO in todays Financial Review."Gold...

I found this snippet on CTO in todays Financial Review.

"Gold stocks may be back in favour, thanks to the surge in the gold price. But they are not gilt-edged investments, as BFG Equities Mining analyst Warwick Grigor noted in his report on Citigold.

About the most impressive aspect of the company was the prefix 'Citi" in the name, but that is probably passe now, given the global banking crisis he said.

Grigor is an unabashed bull on gold stocks, arguing that buklion could surge to $2000. So perhaps he's hoping that stocks such as Citigold will get their houses in order to capitalise on the rise. He noted that Citigold had a track record of not delivering on its bullish statements.

Seriously, this is a case of the emperor wearing no clothes he said. Remember the disasters at Ballarat Goldfields and Bendigo Mining when reality took over? This is a different dog but the same leg action"