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Our Charters Towers goldfield is the largest 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 14 grams of gold per tonne. |
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Gross value of gold in the ground is A$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. |
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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 A$120 million. |
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Additional new external capital required to reach full production rate of over 300,000 ozs/year estimated at $30 million. Balance of growth planned to be internally funded from cash flow. |
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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 under a City of 8,500 people so a all roads, power, water, accommodation, support bussiness intrastructure in place. |
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Environmental and operating permits are in place. |
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Corporate strategy is to develop project to add maximum value for shareholders. |
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Market capitalisation grown from $10 million in 1993 to $300 million in 2008 (@30c/share). |
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NEWS articles worth reading for further information - |
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