CTO citigold corporation limited

I have emailed Mark and others over the past few years and more...

  1. gmt
    8,244 Posts.
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    I have emailed Mark and others over the past few years and more particularly the last 6 months, all you will ever get is positive spin, all high end management are just like politicians experts at spin.We continue to hear the same story, just wait a few months another year blah blah blah. The frugal spending of the last 10 or so years has gone against them IMHO all they have managed to do is keep themselves and a few close to the company in clover with the ongoing SPP's and cap raisings and turned us small retail holders against them, of little consequence to them. To me this is run more like a family business than a publicly listed company and there seems to be more of a blind passion to prove that it can be a profitable mining business without any well considered thought out plan.As with everything it takes time but without the money they are working like owner builders, what should take months turns into years as they scrape enough together to pay the next lot of bills or purchase that next secondhand machine.I am down 200% on what is left of my core holding but have stupidly listened to people that are supposed to be respected and knowledgeable "management" but my experience has shown me that with many of these smaller companies it is more about self interest rather than shareholder interests.They went from an explorer to a miner/producer and back to an explorer once the men with the big sticks started questioning production forecasts / predictions from the obviously cracked crystal ball.I think all us long termers got caught up in the dream once warrior started and they poured the first gold dor bar but ever since then the euphoria started to wane as gold production fell miles short of expectations and the reasons or excuses for missing targets continued to flow quarter upon quarter. The best thing that can happen is that the business is taken over and we could possibly recoup some of our losses, the price of the takeover could be anyones guess.At the end of the day those that really benefit from any takeover will be management. Fortunately for all the holders the gold price is at a high, imagine where the SP would be at if gold were at say $800.
    I am sure they are in discussions with various people around the world to raise funds as looking at the December quarterly there cannot be much left in the cookie jar.

    These are my own opinions and ramblings so please do your own research.
 
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