brownbag
assuming what you say proves true - that CTO is avoiding making payments.
i just did a quick calculation -
5% of 40,000 oz = 2,000 oz of gold at the hedged price (which I assume was lower than today's gold price)... or $3 mill dollars in total at today's price.
So this is potentially what CTO owes the gold trust you belong to.
1.What was the gold price hedged at ? .. and the amount owed by CTO in dollar terms.
2. what's the name of the gold trust.
3. You said you've been receiving quarterly cheques since 2003 - how much has the gold trust received and how much is still owed to you by CTO ?
the rat is starting to smell, page-2
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