CTO - Citigold Corporation

[ned1]

Price of Gold currently at $690. Most gold analysts predict that $730 should be challenged and broken this year.

The company offers "discounted" share purchase of 41c per share.

Yet CTO seems to be on a downward spiral, .385c at the moment.

Surely the trend should change soon. This one has been going sideways for a long time.

Any thoughts?

Regards

Ned

 

[bean]

Back into its resistence today .50 - .52
Been up there a few times but failed over the past months
However as long as it stays near .50
And Gold is favourable the next couple of days may see this take out resistence then its previous high very quick

 

[Bushrat]

CTO - Citigold

Citigold looking a bit underpriced in light of increasing gold production and increasing gold price. SP has been relatively flat for past few weeks and seems to have potential for a move toward 50 once 44 is cleared.

 

[explod]

Re: CTO - Citigold

Citigold looking a bit underpriced in light of increasing gold production and increasing gold price. SP has been relatively flat for past few weeks and seems to have potential for a move toward 50 once 44 is cleared.

Toyed with this for awhile, but like Bendigo et.al. it is deep and difficult. There are many better Aussie plays with nearer surface gold. With labour, fuel and equipment rising in price conserably production costs are a growing issue. Of course a higher gold price will lift them, but for the time being I prefer the lower cost producers.

But others may know better, I have been wrong before

 

[champ2003]

Re: CTO - Citigold

Toyed with this for awhile, but like Bendigo et.al. it is deep and difficult. There are many better Aussie plays with nearer surface gold. With labour, fuel and equipment rising in price conserably production costs are a growing issue. Of course a higher gold price will lift them, but for the time being I prefer the lower cost producers.

But others may know better, I have been wrong before

CTO as far as i know would have to be one of the lowest cost gold producers on the ASX.

Time will tell with their share price.

 

[explod]

Re: CTO - Citigold

CTO as far as i know would have to be one of the lowest cost gold producers on the ASX.

Time will tell with their share price.

Time will tell, however if it can break resistance at .47 then you will be on your way with a rising gold price.

 

[Uncle Festivus]

CTO as far as i know would have to be one of the lowest cost gold producers on the ASX.

Time will tell with their share price.

Time will tell, however if it can break resistance at .47 then you will be on your way with a rising gold price.

My info has their cash cost's to be estimated at $400, but will change as they mine further -we should know with the Sep qtr report. On an EV basis they are fully priced at 43c, but should they prove up the resources then they are severely underpriced. So looks like they need some good production and drilling figures get the sp bubbling again. Still to be proven?

 

[So_Cynical]

Ok i need another goldie and at least this 1 is producing so theres
POG upside. Nice reserves too.

 

[golddigger]

My info has their cash cost's to be estimated at $400, but will change as they mine further -we should know with the Sep qtr report. On an EV basis they are fully priced at 43c, but should they prove up the resources then they are severely underpriced. So looks like they need some good production and drilling figures get the sp bubbling again. Still to be proven?

A new comer to the forum, but have just spend 2 hours reading past comments on CTO , Some interesting stuff . I will be happy to contribute to the debate . My worth.

 

[golddigger]

My info has their cash cost's to be estimated at $400, but will change as they mine further -we should know with the Sep qtr report. On an EV basis they are fully priced at 43c, but should they prove up the resources then they are severely underpriced. So looks like they need some good production and drilling figures get the sp bubbling again. Still to be proven?

You are well informed, as I am, Let me tell you I have be in & out of this stock from the initial float (20c + 1 free option to be exerised @ 20c , Listed 23/12/1993) CTO sure has had some ups & downs over the years, but it still has the same Chairman John Foley but more importantly the top 20 shareholder are much the same as the beginning except they keep buying more shares. Now the top 20 own 43% & still buying.

Sure there are plenty of other gold explorers/miners out there but this is almost a family thing. CTO could float of another 2-3 hundred million shares and have a heap of money & start mining all 5 reefs at once ,bring production up to 500,000 oz/year but it would only dilute the shareholder value ( If you double the no of shares on issue the share value is only half at the same share price.)

This companies board & top shareholders are in for the long haul not the quick bucks-- Old Jim had a great vision and his family is not about to blow it a this stage of the game.

So take it from someone who knows BUY -ACCUMILATE then BUY somemore we are close, so close. ;

 

[So_Cynical]

I brought a couple of weeks ago..and was most underwhelmed
by the annual report, i was expecting a gold miner to be very up
front about there production numbers.

And why issue more shares to raise money, how about mine more
gold to raise money

 

[tradingforwealth]

I brought a couple of weeks ago..and was most underwhelmed
by the annual report, i was expecting a gold miner to be very up
front about there production numbers.

And why issue more shares to raise money, how about mine more
gold to raise money

: I understand your frustrations, I was with this stock a year ago - had most of my money into it. Its funny hey - in the annual report they didn't mention any production results from the last 3 months (don't quote me on this though) and their upcoming plans for the company are extremely vague with no mention of dates.

GL anyway..

 

[golddigger]

CTO's gold production for the 1Q FY07/08 will come out in next news letter , but main annoucements will be at the AGM in Nov.

 

[EasternGrey1]

The latest announcement from CTO looks very positive to me.

• Everything CTO has said it would do, it has done. There is no reason to believe that won't continue.
• They say they will increase production towards 100k oz pa in 2008.
• That will give them an operating profit of $43m pa (100k*(900-470)), or more if the cost/oz comes down.
• CTO market cap is $281m. That's not very demanding for 100k oz pa, but CTO are still aiming for 250k oz pa in later years.
• MSDW have forecast prices for all major metals up to 2009. The only metal forecast to be higher price in 2009 than now is Gold.

 

[trtkjd1]

This stock must be one of the biggest sleeping giants around if only half of what they say they have got is true they would still seem good value in my eyes , They are the priority stock in my portfolio , i just hope they wake soon

 

[So_Cynical]

Citigold
Market Cap: $301,907,736 and over 6 billion $ AUD in ground gold reserves.

Just another underrated gold miner, like so many others.

 

[refined silver]

This stock must be one of the biggest sleeping giants around if only half of what they say they have got is true they would still seem good value in my eyes , They are the priority stock in my portfolio , i just hope they wake soon

I agree. I would rate them the as the best gold miner on the ASX based on resources, revenues, no debt hedging, land position and potential and management. And they are the #1 gold stock in my portfolio also.

 

[bvbfan]

Bollocks, management were syaing this would be a large producer since 2001 and yet nothing.

Full of hot air when it comes to actually getting decent production

 

[explod]

Bollocks, management were syaing this would be a large producer since 2001 and yet nothing.

Full of hot air when it comes to actually getting decent production

Yeh, have a cousin who lives up there. I pleaded thier case to him as I saw it and he said, "they have always had a lot of problems with water, golds there but problems getting it out" like Bendigo, deep mines are always a problem. So I watch but got out 18 months ago and nothing has mde me feel inclined to go back in again.

 

[jeff65]

Bollocks, management were syaing this would be a large producer since 2001 and yet nothing.

I would agree with the above, but the latest announcement is encouraging. Seems they are now willing to take on some debt to get things moving more quickly.