CTO 6.67% 1.6¢ citigold corporation limited

reason for low production figure

  1. 120 Posts.
    I wondered about the low production figures, so I asked a company exec and got the following replies:
    (1) Not much of the 2000 oz stockpiled was used in this quarter - it was low grade.
    (2) Reasons for the low production in July and August include lack of funds and a delay in development.
    (3) I specifically asked him why the figure was so similar to previous quarters (other than the last) in spite of the fact that the graph shows an increased production and a record in September. I was informed that of the last quarter's figures, 3200oz was in September.

    The last figure is especially encouraging - multiply it by 3 and you get 9600oz, almost equal to 40,000 oz per year - a key target. It means that the injection of funds and the move to 24 hour operations is making a significant difference. Roll on next quarter!
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