wow!, page-9

Question for the AGM, Why is CTO's share price at a 10 year plus low of 4.2c when you take all of the following (from the website) into account?

• Our Charters Towers goldfield is the largest major high grade gold deposit in Australia.
• Citigold is the owner and operator of 100% of the goldfield.
• Defined gold resources are 11,000,000 ounces (342 tonnes) of gold - JORC compliant.
• High grade gold deposit contained 25 million tonnes of mineralisation at an average grade of 14 grams of gold per tonne.
• Gross value of gold in the ground is $16.5 billion (@A$1,500/oz).
• Cash mining cost estimated to be under A$400 per ounce at full production.
• Mine life estimated at over 30 years based on size of gold deposit.
• Long term exploration upside targets 50 million ounces (1,600 tonns) of gold.
• Capital invested to date over A$190 million.
• Additional new external capital required to reach full production rate of over 320,000 ozs/year estimated at $100 million. Balance of growth may be internally funded from cash flow depending on rate of growth.
• No gold has been forward sold, so no hedging risk.

And they now have the $100mill that they needed!!