CTO citigold corporation limited

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Boles, they don't have to come up with any gold for GLD until...

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gmt

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29/08/17

10:55

Post #: 26830266
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Originally posted by boles ↑

Just say that there is a very remote chance that GLD come up with a few million. They will want some gold for their money. There is no place anywhere on the CTO mining leases where any gold can be produced in the next 12 months. The C03 ore zone, with a possible 20,000 ounces, intersected in 3 widely spaced diamond holes, is a kilometre ahead of the current central decline. Optimistically this could be reached in 166 days if two decline cuts could be achieved in 24 hours. Then there are the development levels to put in. Optimistically another 3 months. However, those that know mining know that nothing works that smoothly, so realistically 12 months before any ore is trucked to the mill. There could be 5600 t of development ore from each of 3x 100 m long levels. This is generally diluted so possibly 9 g/t Au. Therefore there may be 16,800 t of ore at 9 g/t Au, or about 4900 ounces available as development levels progress. All this would have to be done with an experienced mining contractor that would be reluctant to take on this work knowing CTO’s payment history. And that folks is all she wrote. My thoughts only. DYOR.

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Boles, they don't have to come up with any gold for GLD until June 2022, 5 years away !! That's why in my view this is a nothing deal, nothing more than cross promotion of 2 businesses that may or may not deliver on their promises.
At this stage it seems the GLd coins do not start trading on an open exchange until the 3rd quarter 2017.

https://finance.yahoo.com/news/cryptogld-explodes-innovation-launching-worlds-130000300.html

DYOR My thoughts and ramblings only

CTO Price at posting: 0.8¢ Sentiment: Sell Disclosure: Not Held
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