"Now CTO has a specific plan to increase production, I also believe its plan is based on recent drilling results, for it's reliable."
Yes, this drilling is underground mine planning drilling. 18k oz has been drilled at the WS19 panel or "pod" and will be produced this year. Moreover, the decline has been developed 600m ahead of WS19 and several other areas have been identified for mine planning drilling that I'm told can be done quite quickly, about one and a half months for each. Produce 15k oz in Q409 and the share price will be much higher than 17c. Longer-term, the geophysical drilling will potentially prove a lot more productive in identifying these pods, given we're told that 80% of the gold is associated with the iron sulphides.
Rowingboat
CTO Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
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