Ok Sydney , here we go , Bendigo once had a jork of 11 million oz spent hundreds and hundreds of millions developing it and it recently was basically given away for small plant value and environmental bonds . They actually produced some quantities of gold and occasionally actually made a quarterly proffit from the operations ( something CTO yet has failed to ever achieve ) but had the decency to admit to share holders that it was not paying its way and shut it. Ballarat had a 9 million oz jork at one stage they and lihir spent hundreds of millions before admitting defeat and selling to CGT for next to zip ( about 6 mill ) Cgt still struggling with the mine but may actually make something of it on a small scale. Both these mines had had the deceny to post real costs not the fairyland stuff CTO reports where development costs are not taken into account. What use is a mine that costs twice as much to get to a given stope , than what it actually recovers in Gold.
CTO Price at posting:
7.0¢ Sentiment: Sell Disclosure: Held
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