"The assumption that the Directors will be able to make forward...

"The assumption that the Directors will be able to make forward gold sales amounting to $1,200,000 in March to May 2016 has been made on the basis that the Entity is seeking to sell 60,000 ounces of gold resource at a price of AUD$20 per ounce in situ. The relevant gold resources have been identified and are situated within a granted mining lease. Any sale or sublease of all or part of the relevant mining lease or leases to a buyer will not interfere with the planned future production operations of the Entity. Under the terms of sale, the buyer will be responsible for any extraction and processing." 23 March, 2016.
How is this going? I don't believe CTO have any "identified" resources of gold. The "granted mining lease" would not have any environmental approval, just to mention a couple of minor hick-ups. My thoughts only. DYOR.