hobo, CGT have always looked after the small holders via rights...

hobo, CGT have always looked after the small holders via rights issues, SPP's, see no reason for it to change. They need to secure straight away at least $15 million to meet basic comittments under the deal which would be done via the placement

It once again shows that timing is everything in this game. Who would have believed that CGT could pick up a brand new 600,000tpa processing plant 80kms down the road for nothing! ( probably cost $40 to $50million)

Of course there will Ballarat naysayers, with good reason. However time is on our side, if you believe in the gold bull and gold will be trading at much higher prices long term then juniors that control significant assets , as in this case, will be highly valued

CGT also now has a great story for the market, and the market needs a good story or it goes to sleep.

As Robert points out, small scale selective mining is the key here rather than the ambitious 250,000 ounce pa plan of the previous operators.

CGT geologists are in my view exceptional and seem very talented at proving up and identifying reef systems in complex geological conditions.

CGT director McCarthy is a very experienced mining professional, this deal is his swansong

Check out the free library at

http://www.amcconsultants.com.au

the article about the life of a Ballarat digger is very interesting. Its relevant to the current situation and you can see where McCarthy comes from.