gold speccy - bluesky potential or tax write off ?

  1. 473 Posts.
    Hi Guys,

    Lot of talk about Goldies both producers and speccy's on the forum of late but this little baby seems to have been overlooked.

    Company - Charters Towers Gold. (CTO)

    Trolling though the company announcements came up with the following;

    Potential resource of 15 million oz's.
    Minable resource consevatively estimated at 6.8 million oz's.
    Production to begin within 6 mths of initial drilling.
    Production to plateau to 250,000 oz's p.a. after a 5 year build up period.
    They forecast they can maintain this plateau for 30 years.
    Costs estimated at US115$ per oz.
    Sounds like BDG's little brother to me. lol.

    Current market Cap is approx 24 million AUD.
    Apparently they have just announced a placement on top of this of 10 million shares @ 8c = $800,000.

    Now these numbers are very very attractive, I stipulate they are forecasts from the company. A company that needs capital to develop a resource BUT you would be mad not to have on your shortlist.
    CTO will probably go through many dilutions or if the above is any way near the truth will team up with a financially robust big brother to develop this resource.

    Have a read of announcments make up your own mind.

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