ten bagger competition, page-106

I havent mentioned CTO .. that's my second pick after MCO.

CTO will be very low cost - around $350/oz when it ramps up to 100,000 oz/annum.

- has an interim inferred JORC resource of 10 mill oz .. with an upside potential of 50 mill oz(still drilling).

It's a plodder .. just started production and slowly ramping up - but by slowly developing has avoided debt - it's debt free and owns the plant and equipment to produce to 100,000oz/annum !
(Aims to eventually produce to over 300,000 oz/annum).

All this for under $200 mill market cap and is in australia - no sovereign risk.