I fell for the positive ann last October when it said 25k ozs still on track. Whilst I'm still eligible to take up the SPP (having sold the day after the SPP was announced), I have not taken up the "special offer".
The track record is that there'll be a placement at the same price or thereabouts, with a bundle of free options or free shares to sweeten the deal. I wonder how many free shares have been given away over the years in this manner?
The next announcement you see will probably draw a line on the chart at 8 cents and scream "SPP supported, CTO stock up 25%". Whilst the last part of that line is somewhat true, it's a bit misleading to ignore the 3 year 80% loss.
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