Sunburst needs to be developed and I believe they can access it via the old Central Decline (not near Warrior). it is too far to drive a decline from Warrior out to Sunburst. for CTO to even look like producing 100koz pa the development for Sunburst needs to start now, not waiting until Warrior is producing 40koz pa to fund it. I thought this was the purpose of the Dubai loan, to also begin this development. It will be quite some time before Sunburst is in production.
I am also wondering if the Dubai loan is going to go ahead. This project needs this funding to ramp up production. $9m they had at the end of the September quarter is not going to go that far based on current production figures.
CTO Price at posting:
23.0¢ Sentiment: None Disclosure: Not Held
