The number of shares on issue to CTO has been an issue, but...

The number of shares on issue to CTO has been an issue, but achieved the position CTO is currently now. No JV's and no borrowing.
AND with jv's no longer a threat, more than 10% of shares owned by the Lynch family, cash stream commencing, the opportunity now exists for the Directors to cap the number of shares through no further Share Purchase Plans, special one off deals to investors and hey they might even look at putting a little of the cash flow back into share buy backs. Perhaps I'm optomistic in regard share buy backs at this stage, but certainly down the track when the directors are looking at dividends versas share buy backs, the later will really propell the SP.
BUT irrespective of all of this, the potential that CTO has within its tenaments is absolutely massive and for those who are patient (and I've held for over 10 yars) we'll have a $5-$15 a share company in 3 - 5 years and potential production for 30-50 years.