G'day Jdubya.M8, I do not know what to say to you about CTO.I...

G'day Jdubya.
M8, I do not know what to say to you about CTO.
I have been in and out of the company maybe 5 times over the last 6 to 7 years and I always end up feeling like a fool for having been sucked back in.
I rarely ask my broker for advise, as I find brokers usually know even less than I do, and that is saying something, but about 4 years ago I did ask if they thought I should get out of CTO, and their reply was ," You should never have been in there".
They told me a couple of stories about the management that I put down as "boys just being boys" and I took little notice of their advise. THE PROBLEM IS THAT IS THE ONE TIME THEY WERE CORRECT.
CTO have never met any of their fabulous predictions for gold production over the years, and in fact, I cannot understand why the authorities never take them to task over their missed predictions, but then all these so called regulatory bodies are really "only jobs for the boys". As shareholders in Australian companies we need to remember that we really are on our own.
I spoke with Mark Lynch at the shareholder meeting in Brisbane that was called to vote on the Dubai Group raising and Mark told me how he knew that Bendigo Mining (BDG) would be in trouble with their mine because he had been down there and could see it. It is a pity he could not see the same thing in his own mine.
I wish I had sold all my CTO shares at the time and bought BDG.
I have been lured back in to the company a couple of times by the likes of a couple of "experts" writing for different websites and newsletters, who I thought should have an educated knowledge, but even they all seem to be wiseing up of late.
So Jbubya, you really have to make up your own mind on this one, but, if you indulge, be prepared for dissappointment every time a quarterly report comes out and be prepared to put your hand in your pocket every 6 months or so for the twice yearly round of dilution.
Personally, I will wait on the sideline from now on.
Everyone thinks they have to be in CTO or they will miss the prize if, heaven forbid, they do actually stumble across some gold.
There will be plenty of profit left for those who sit on the side just watching and who then buy for a few cents more after any announcement of the elusive CTO gold finally having been found, just do not hold your breath.
There is no risk involved in waiting and there are now so many shares on the register, from the numerous raisings, that there will be plenty of people wanting to get out even if any news is fabulous, so you will be able to get in then for sure without the risk of buying now.
I would dearly have loved to see this Queensland company do well, which is undoubtedly one reason I have been in there so many times, but now I am starting to feel ashamed that it is a Queensland company.

Kind regards

Lockitt