Too early to write CTO off at this stage. I lost a lot of money...

Too early to write CTO off at this stage. I lost a lot of money on CTO and hold no shares now, but still think there is hope for this company. The nature of underground mining is that you have to dig through the low grade stuff to get to the high grade stuff. In CTO's case that is dragging on longer than expected, and they have hurt themselves by raising people's expectations then being less than frank about their problems. On the other side of the ledger, they are a stable and (relatively) competently managed company, and the people who run the mine have a lot of skin in the game. They have kept expenditure contained for the most part and can probably survive for a while on poor production. With gold so strong and likely to remain so they are operating in a favourable environment. The two big questions in my mind are firstly, what will the production figures be that they must release at the end of this month? And what will they do, in the very likely event that they have to come clean finally and admit they are FAR below their targets, to repair their wounded credibility?