june quarter gold production 1,855 ounces

From the March quarterly. Production guidelines for the rest of the year were:

June 09 quarter
2,500 ozs

September 09 quarter
5,000 ozs

December 09 quarter
15,000 ozs

=============

So I guess the 1,855 ounces announced in today's June quarterly is close enough? After all, it's only 25.8% less than the guideline from the previous quarterly.

I guess we are all surprised that the number came in below the guideline?

But the good news from the June quarterly is that the 2009 gold "production plan" is still "on track for 25,000 ounces."

So I'm sure we're all looking forward to a bumper September quarter of 5,000 plus ounces followed by 15,000 ounces the following quarter. Yippeee!!!

So I guess CTO might have mined say 1,500 ounces this month? If so, how about telling us? Or did I miss it?

PS: By the way it's worth noting from the June quarterly that CTO raised $14.396 million from equity issues during the quarter and ended the quarter with just $3.846 million cash.

It's also worth noting that CTO's accounting cash cost of production was just AUD491 per ounce for the June quarter. Unfortunately at present all this very cheap to produce gold doesn't seem to increase the CTO bottom line.