german report, page-3

thanks auag.

it is an old report and may have accounted for 1% of the dumping way back then perhaps.

But looking forward... and I pose this question to everyone again.

In light of the fact that ..
CTO is a cash strapped junior and it could well be that it may therefore never be able to progress this giant project past the current production rates.(I hope that's not the case).

..in this bleakest scenario - what would a global miner be prepared to pay for this project ?
It has to be worth something to someone.

This will determine the downside risk.

I think this large project was really too ambitious for a junior, it was really meant for a company like Lihir, Kinross etc.. to progress it.

One thing that's noteworthy ..
It is amazing that CTO is alive and well and has delivered shareholder value and hasn't squandered it .. it has an NTA of 27 cents !