Does an investment in CTO remind you of a treasure hunt or looking for that pot of gold at the end of the rainbow?
Because for a number of years, despite CTO's bullish predictions, CTO gold production has consistently fallen well below guidance.
It pays to have a look at what CTO's gold reserves are. At present they are miniscule compared to CTO's "inferred" gold resources.
It is these "inferred" gold resources of millions and millions of ounces which keeps the treasure hunters interested in CTO despite CTO so far never delivering the treasure via any serious gold production. I mean, what's a couple of thousand ounces in a quarter after how many years of gold production!!
It is these "inferred" gold resources of millions and millions of ounces with talk of producing hundreds of thousands of ounces annually at a very low cash cost which promises to deliver riches to a never ending flow of new investors tempted to take the punt.
But so far, any CTO actual gold production even hinting at hundreds of thousand of ounces annually has been as elusive as that pot of gold at the end of the rainbow.
We wonder what the future will hold.
A successful CTO treasure hunt or ....
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