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| Investor Introduction |
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Citigold Corporation is an Australian gold producer with a clear strategic plan to grow Citigold into a world class integrated gold company by:- |
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Converting the existing 10 million ounce gold resourse into a reserve over time; |
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Grow gold production to 300,000ozs per year; and |
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Expand the existing gold resource deposit towords the larget potential of 50million ounces. |
| A 300,000 ounce gold producer with annual revenues of over $300 million a year is our overall goal. We are currently in production at the Charters Towers south mine area, the first of several adjacent gold reefs to be developed. Our defined gold resources and gold production plan provides for a long mining life of over 30 years. |
Some Key Information
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Our Charters Towers goldfield is the largest major high grade gold deposit in Australia. |
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Citigold is the owner and operator of 100% of the goldfield. |
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Defined gold resources are 10,000,000 ounces (311 tonnes) of gold - JORC standard. |
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High grade gold deposit contained 23 million tonnes of rock at an average grade of 14 grams of gold per tonne. |
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Gross value of gold in the ground is $10billion (@A$1000/oz). |
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Cash mining cost estimated to be under A$350 per ounce at full production. |
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Mine life estimated at over 30 years based on size of gold deposit. |
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Long term exploration upside targets 50 million ounces (1,600 tonns) of gold. |
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Capital invested to date over A$180 million. |
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Additional new external capital required to reach full production rate of over 320,000 ozs/year estimated at $120 million. Balance of growth may be internally funded from cash flow depending on rate of growth. |
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No gold has been forward sold, so no hedging risk. |
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Citigold is very capital efficient based on cost of asset and gold mining infrastucture built to date. |
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Citigold core management and mining team are highly skilled in our gold deposit. |
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Mine is located adjacent to a City of 8,500 people so a all roads, power, water, accommodation and supporting bussiness intrastructure in place. |
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Environmental and operating permits are in place. |
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Corporate strategy to develop project to add maximum value for shareholders and to be able to pay substantial dividands to shareholders. |
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NEWS articles worth reading for further information - |
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(Updated September 2011)
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