Amazingly CTO has a market cap of $83 million at .078 thought it...

Amazingly CTO has a market cap of $83 million at .078 thought it would have been much lower, but guess all the capital raisings they have done it has kept the market capitalization inflated even though it has done nothing for the share price, it just means it could still go alot lower until it becomes a fair valued spec stock again in the 5-20 million range.

Could go to .02 for a market cap of 20 million market cap, or .005 at the bottom range of 5 million market cap.

Just saying for those looking to buy value, CTO is still expensive for what it is. I am assuming they don't have economic gold which they have found yet, but still 10 years is along time to not find much which they could mine at a profit.

Why waste your money in CTO, other dogs out there are much cheaper and have more going for it like UML, they are likely to close their kangaroo flat mine, but they have Henty which they are producing gold from now at a profit which looks like it is from their announcement. They also have 30-40 million in cash reserves. Market cap 48 million at .095, there sure is a buffer under the market price unlike CTO which end of each quarter they are looking around at the market for cash.

"Henty has produced almost 1700 oz gold in the first ten days of April at a head grade of 7.3 g/t gold. By comparison, based on preliminary data for the March
quarter, Henty produced 5400 oz over the three month period at a grade of 3.7 g/t gold. Cash operating costs are tracking at less than $900/oz for April."

That is UML, now what does CTO have to justify an almost double market cap? Is there something in their production I am missing? Only thing I can think of is their claim on the website that the towers have 50 million ounces of gold, if that is true then $1.30 an oz in the ground is pretty good but we all know what bulldust that is.