Citigold’s (CTO) Suspension – Demise Looming, Opportunity Emerging for NMR
CTO has once again fallen into suspension, this time for failing to lodge its financial statements—a telling sign of poor management and deep operational issues.
Despite controlling an enormous gold resource—14 million ounces at an average 14g/t—CTO has consistently failed to translate this potential into production.
At current gold prices that’s a theoretical in-ground value of over $43 billion. Yet, the company can’t even keep its paperwork up to date. Shareholders have seen years of underperformance, broken promises, and now what could be the beginning of the end.
Enter NMR, which is strategically positioned just down the road wIth our soon to be commissioned gold mill. If CTO collapses or is forced into a fire sale, NMR is in prime position to coop up highly valuable tenements for a fraction of their worth.
Imagine NMR securing access to even a portion of that 14Moz resource, with the ability to process it through their plant—transforming stranded ounces into cashflow.
Not sure about $1.00 but have heard brokers talking 50c isn’t impossible!
NMR Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
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