To say the obvious CTL is bleeding money. All mining and milling...

To say the obvious CTL is bleeding money. All mining and milling operations must stop.

The assets of CTL are the A1 mine, Union Hill mine and the Processing plant at Porcupine flats.
The Crusher, Mill and tailings dam alone would be worth at least 5 or 6 million just because they are up and running, LICENCED and CERTIFIED.
From what I have been told (and do correct my if I am wrong) the last company that owned Union Hill Gold Mine spent 18 million dollars putting the decline in. It's my guess CTL Directors and management wasted another 8 to 10 million dollars of our money blindly mining it without first drilling and assaying it.

Union Hill Gold Mine is a worthless asset unless it can be proved that gold that can be mined profitably is there. We need to find the 1 million dollars or so that it would cost to complete a thorough Drilling program at Union Hill. I believe that there is gold there. History has shown it is the correct area but only a proper Drilling Program will tell specifically where and in what quantities and grades.
Where do we get the money for this? Mortgage Union Hill Gold Mine itself? Sell all the machinery thats left? Run the CIL/CIP plant until every spec of gold is recovered? A credit raising specifically for the Drilling Program? My preference is to sack the incompetent Directors and Management have ASIC investigate them and if any misconduct or negligence is been found sue them, but that will take to long.
The money for a drilling program must be found anyway possible. Its desperate times.

And what of the A1 mine? As Joe Blow said or alluded to, don't mine any low grade at the A1 focas on getting the decline to the lower levels mining any payable ore on the way and when they get to the old 18 or 1900 levels start a detailed explanation drilling program so we know what is below 2300 level.
This will mean only running the mill for maybe one week per month and reducing the workforce the the absolute bare necessity.
First get ride of the current Directors and Management.