golden multi multi bagger ...

I am extremely condfident CTO will become a multi multi bagger.

Here is some of what CTO released to the ASX after trading hours today:

"Citigold Outlook for 2008

During 2007 Citigold confirmed three key aspects with the continued gold production from its Charters Towers Warrior underground mine:-

1. The high grade gold lodes are identical to those that historically produced over 6 million ounces....

3. Gold Can be Mined Cost Effectively
During the September quarter gold production cash costs were A$470 per ounce. This compares favorable with a gold revenue price of nearly A$900 per ounce. As gold output increases, costs per ounce are expected to reduce....

Citigold in 2008 plans to build on the foundations created in 2007 in the following key areas:-

Gold Production
· Escalate gold production towards a rate of 100,000 ounces per annum.
· Double the work force to 200 personnel.....

Additional Mine Development
· Commence the re-commissioning and development of the City mining area (Lode 1). This underground area already has substantial infrastructure established including a decline tunnel down to 238 metres vertical depth. Phase One gold production from this area is planned to build up to 60,000 ounces per year of gold over an 18 months development period and later to expand up to 150,000 ounces per year. All ore will be processed at the existing central process plant....

Diamond Drilling
The following program is planned:-
· Five drilling rigs will be operational by the end of quarter 1 of the 2008 calendar year. This drilling is aimed at expanding gold reserves to 1 million ounces in 2008 and 2 million ounces in 2009. Gold resources are expected to grow above the current 10 million ounces.....

Citigold believes that the unmined gold lodes at Charters Towers represent a giant gold deposit and this and other drilling aims to prove these credentials...

· Citigold will update its Resource and Reserve calculations to capitalise on the expanded drilling program. Very recent drilling continues to intersect high grade gold mineralisation including substantial assays, with one hole intercepting 2 metres @ 64 g/t Gold, continuing to show that the gold deposit is performing as expected (full drilling results at www.citigold.com)....

Financial
· Raise significant commercial funding, estimated at A$50 million, to accelerate development with minimal dilution of existing shareholders....

Engage corporate advisory services to ensure increased market exposure and stock demand. The Charters Towers deposit is unique on a world scale in richness and size of deposit and therefore justifies exposure to larger capital markets.

· List on additional international stock exchanges to utilise new investor markets and receive full appreciation of the asset...."