It seems my bet on CTO is right. Its price jumps up from $0.053 to $0.06 in this selling season or no-tomorrow days. It is no just a gold hopeful but producer. All of us know the credit market is nearly dead to the pennies of resource companies. All want to get more and more discount from them. Under this extremely bad environment, all of things drop down is normal. The beauty of CTO is it goes up at the end of financial year and when all worry about EU's dire impact to China, US, and of course Australia. The causes of the shooting up must be very strong. All of good news are bad and extremely good news are so so. *** I am happy to see this shooting up. It should be up before 1st July. It should be the facility for the losers to get tax deduction. It is abnormal but good one. The normal things are Greece in default, China tip off, No US houses needed, Resources at the edge of huge holes, and then all should sell something for their mouths. It needs to go a little bit deeper to see the reasons so that I could make judgement based on the facts and future probability. Just feel it should go back its bottom means, $0.07 if not $0.10 very soon! *** CTO has released the technical report Mineral Resources and Reserves 2012 for the Charters Towers Gold Project This is the first time the silver Mineral Resources and Ore Reserves of this project have been quantified. 1. The gold Ore Reserves have increased by nearly 90% and the Mineral Resources for the Project have increased by 10%. 2. The Probable Ore Reserves are outlined below:- * 620,000 ounces (19,000 kilograms) of gold (2,500,000 tonnes at 7.7 grams per tonne gold), and * 410,000 ounces (13,000 kilograms) of silver (2,500,000 tonnes at 5.1 grams per tonne silver). 3. The Inferred Mineral Resources are outlined below: * 11 million ounces of gold (25 million tonnes at 14 grams per tonne gold) * 7 million ounces of silver (25 million tonnes at 9 grams per tonne silver) *** More important matter is: 1. The Project is in gold production, with the necessary infrastructure in place 2. It has sold over 95,000 ounces of gold and 45,000 ounces of silver since production commenced. 3. Australia is the safest resource bases! 4. All in Australia have been in downward trend for years, which make it a very attractive darling if Gold hold its price more than $1500. 5. EU and failure of Aussie gold hopeful have discounted the extremely good news in extremely way. 6. This new resource report would put a lot of buffer for the coming tsunami if it would be in. 7. If EU could not drag the sky down CTO seems have chance to shoot up into the sky even no one now expects it would be in the moon. What is its fair value? *** What does it mean? The initial investment has been paid by some ones when its price drops down from $0.5 to $0.05. The buyers with holding trait have paid the cost for me! Definitely some would sell for less losses in this price spike. It is understandable but I do feel it gets game change ticket. Since 2006 all of gold hopefuls have been punished by the market. We want to get the gold but don't want to pay the cost. My problem is I failed to lock the good enough profit so that I could not have cash to buy great discount now. I will do my analysis for my next buying time for high winning probability! I have to win over myself first. *** By the way ARU holds its position very well around my buying price, $0.21. AKK lost 0.5cents from my buying price, $0.023. It will stimulate its new horizontal well very soon. The crowd doesn't guess but follow the extremely good news only. The extreme bad market sentiment scare the trader away from anything with any risks. I bought it a little bit too early. The crowd sentiment is very powerful. However AKK is a matter about the oil and ARU is the matter it has got the fund at $0.22. *** 1. I will buy only when I believe the sellers are selling on fire with the eyes on the cash flow, new fund, and market sentiment. 2. I will sell only when I feel enough or when I recognize my own errors. 3. I will not lock me into traders or investors' boxes. 4. I would like to be wise and intelligent for the chances with affordable capital for my annual cash flow first and fortune in future. I am fearful to miss the trains but I do know EU could make things very ugly. I have bought enough and the market could be worse after the coming Thursday. *** Timing is not important but everything!