CTO has Australia's largest and richest gold deposit at Charters Towers. Producing 25,000 ounces this year, 85,000 ounces next year, ramping up to 200,000 and then 300,000 ounces in the following years, at a cash cost of AUS$350.
CTO bought their 10 million ounces of gold for $3 an ounce. The other $105 million has been invested to provide the infrastructure which is now producing gold, and will do so in ever-increasing quantities for the next 30 years.
Certainly, shareholders are disappointed with the slow progress to date, but this is where the weak hands transfer ownership to the strong hands. A 23% increase in shareholder numbers this year tells the story.
Those who sell now around 16c will have many years to regret it
