Thanks for taking the time for your report and description...

Thanks for taking the time for your report and description Kosenar.

It has been evident now for years that cash is a major problem and the way they have been thrifty with there spending has worked against them and us. They have created a lot of negativity with many shareholders here and in other forums, this would not go unnoticed by potential investors I am sure.

In past communications I had with company representatives it was intimated that certain forces were conspiring to hold the value of the SP down, they even had me believing this at one stage. But time has shown me that this is not the case and the SP is purely reflective of where the company has put itself, there is a blocking stake in place and it appears that most SPP's really only cover wages and salaries with a bit left over to do some exploration / mining. IMHO there is one major problem and that is the management and its skill sets.

It is much like buying a house, week after week you see it advertised with the agent / owner telling everyone how good it is, that is the best on the block and the owner believes it truly is because he built it on a very low budget. But the buyers see the house differently, it has been advertised for months but still hasn't sold, so there must be something wrong or the owner is overstating things.

At the end of the day the market decides the true worth of the company, and unless something radically changes the market has decided CTO is worth 10 to 12c a share at the moment.
They are in a catch 22 situation, they won't get the cash required to get things moving until they can get gold production up to say 30,000oz / year and to do this they need the cash.

SPP's are now out of the question IMHO I for one would not be pouring money into this hole, and the odd $2mill injection from a Chinese company every quarter only helps to keep salaries and the coffee machine going, they need someone that is willing and able who can manage and promote this company, wonder if CDU's Mr WM is available on a consulting basis.
At the end of the day they have managed to make a few tunnels through some very hard rock,bring out a few oz's of gold, kept a few people employed and management on very reasonable salaries for more than 10 years. Nice if you can get it.

DYOR My ramblings only.