woteva wrote "CTO are not raising capital because they are...

woteva wrote "CTO are not raising capital because they are running out of cash. The fact is that the operation as it stands has now reached break even cash status."


They have <$1m in the bank (see the quarterly).

They had "net operating cash flows" of ~ -$2.2m for the Dec quarter.

So I'd suggest they ARE running out of cash!

Also to quote a proactive investor article (CTO cheerleader):

"The company required gold production of 25,000 ounces per annum to be profitable, given the $4-5 million of exploration expenditure. If this was taken out of the equation, the mine was profitable at 20,000 ounces of gold production"

So no...they are not cash flow positive (with exploration).

The question is this...what happens if they only raise a couple of million (maybe even that is a stretch given the current SP)?

One quarter of missed production target now could be curtains, no?

What is the liklihood (& long history) of a missed quarterly production target?

I honestly wish best of luck to holders.
cheers