Just some food for thought. We have all seen the June quarter...

Just some food for thought. We have all seen the June quarter financial statement and that cash on hand at the end of the quarter was $2.043 million. W also saw that borrowings were $2 million, i.e. without those borrowings, we would have had $43,000 in cash and venture to say, with expenditure at declared rates, we would have been cashless within weeks into the current quarter.
The question that all those that continually ridicule the company's management and lenders need to answer is this. What would have happened if the lender had insisted upon being re-paid in cash (which the company didn't have)??
A simpler, less significant question, but, to emphasize my point, is what if the lender insisted that by taking shares instead of cash, that the deeming value of those shares be the VWAP @ .0064 and not $.008 that was taken, in effect paying a 25% premium?

I.E. Without that lender being so "friendly" to CTR and all of us shareholders, this company could be packed up and an Administrator appointed. The "friendliness" of the lender and the ability of management to retain that "friendliness" is the only thing that is keeping all shareholders having an interest in this company.

The ONLY thing preventing the company being declared to be formally insolvent is the income that it is receiving from A#4 (its ONLY source of income) the value of A#4 as a producing well and the willingness of those lenders to lend!!!

Starting to get the REAL picture and not those conspiracy fairy tales?
A#4 and the lender ("mates") are the only things stopping this company from being wound up and de-listed!!

And people are rubbishing those "mates", rubbishing the company management for keeping the company afloat, and rubbishing everyone involved for not demanding more production from A#4 and potentially destroying it??

Being Sunday, it's a good time to settle back, count your blessings (as there are potentially huge blessings if all of this works out) and start praying that A#5 does deliver.


It is FAR more complicated for management than just the geology and engineering. They are to be commended for getting us this far and keeping us in the game. Pity that it is not progressing as fast as the punters, who have no interest in the long term future of this company anyway, and management not being able to provide more regular "progress" reports, as there isn't any "progress" worth reporting.

It's Sunday and the 'pies have been slaughtered, so, 'nuff from me. Can't wait for the next announcement!!!!