Reposted with the first sentence corrected and an additional sentence or to.
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Sidr, you appear to be ignoring the fact that CTO are massively cash flow negative every quarter. The money CTO obtains from mining nowhere near covers the company's overall costs.
I now believe it's in shareholders' best interests to get a company that has plenty of cash to burn and can make things move much faster than at CTO speed to take over - ie a merger, or joint venture.
Can anyone holding CTO shares tell us the width of intersections and the grade of gold found in that much hyped deep hole?
At present what we still basically have is a conceptual gold mining operation with the same blue sky that has been promised for years and years. Only 2,569 ounces were produced in the December quarter. You can hardly say producing a few thousand ounces of gold a quarter after years of mining and failing dismally to meet the next year's gold production targets is operating and developing a successful gold mine.
It isn't.
If the mine is capable of producing 100,000 ounces of gold a year, 200,000 ounces of gold and more a year then surely by now it's time to get someone involved who has expertise and a track record of making things happen.
CTO Price at posting:
18.0¢ Sentiment: None Disclosure: Not Held
