I couldn't help but notice the following from CTO's 25th. May ASX release in reply to an ASX query:
"The company has a very successful track record of raising funds as required from its large shareholder base and outside investors.
The Company expects this position to continue. This past and future fund raising includes debt, equity, royalties and combinations thereof. If the company expects revenue to drop or expenses to increase in such a way that its current cash reserves may be negatively impacted it will engage in additional fundraising, as it has in the past as a normal part of its business, to ensure that the required funds are raised in a timely manner."
My comment:
Well, CTO sure got that spot on. My word CTO sure has "a very successful track record of raising funds." CTO has certainly succeeded there as a "normal part of its business."
Having a look at CTO's pathetic downtrending chart over the last few years in contrast to the strong uptrending gold price and having a look at CTO's pathetic share price - 8.4 cents today - what really is CTO's main achievement so far?
It's a pity we can't say a "very successful track record" for consistent gold production growth. Because gold production growth has been anything but consistent.
It's a pity we can't say a "very successful track record" for share price appreciation, because if you didn't know the gold price and looked at CTO's nasty, downtrending share price I reckon you'd have to assume the gold price had collapsed.
The market has so far proven to be a cash gold mine for CTO which continues to raise cash as a "normal part of its business."
What about CTO proving to be a cash gold mine for its long suffering investors?
Add to My Watchlist
What is My Watchlist?
