Happy to have bought again at 9 cents. Looks like it has put in...

Happy to have bought again at 9 cents. Looks like it has put in a double bottom at 8 cents.

gmt,

Spot on about Chinese seeking board seat. If I were to give CTO $millions that would be my requirement. Typically much easier to get it by agreement than by doing it by takeover but I just don't see ML et al giving ground on it. They may be playing the various investors off against each other. A partial takeover then EGM seems only realistic way?

Hi trtjd1,

Actually their access drives are 3.5m x 3.5m, only the main declines are 5m x 5m, I have seen this with my own eyeballs.

So the ore figure above of 22000 tonnes should be more like 10800 tonnes. ie development ore is about 5.7 g/t overall.

CTO say they did minor stoping in the quarter. So nearly all of the gold came from development. So a 1m width vein across the face of an access drive is about 4 square metres. 4 times 326m is 1304 cubic metres of ore at 2.7 tonnes / cubic metre = 3520 tonnes. 2048 oz of gold produced gives roughly 18 g/t - how's that for uninformed speculation.

If CTO gave more detailed info people would not be making erroneous inferences eg that CTO does not have 10 million oz at 13 to 14 g/t, or that the vein is actually 18g/t.

Plough,

Can you explain what is meant by "they are having to drill without sight of the reef for about 10 metres above and below the access drive." The reefs are pretty planar so what is the difficulty you are referring to?