"Our aim is to be a 300,000 plus ounces per annum ultra-low cost gold producer in five years using state of the art technologies efficiencies, all with the aim of returning substantial profits to shareholders in harmony with the local community"
Citigold Corporation is an Australian gold mining company operating on Australia's highest-grade major goldfield at Charters Towers in north eastern Australia, with goal to increase its size and valuation over the next few years.
Citigold is a growth company that aims to a growing cash flow from gold mining operations and the huge capital growth upside of an exploration company.
The Company has invested over $200 million to develop the goldfield, has extracted over 100,000 ounces of gold through test mining gold and plans to build up gold production from its underground mines in stages.
Citigold hold's 100% of the high grade Charters Towers goldfield where a Inferred Mineral Resource of 14,000,000 ounces of gold (435 tonnes) in 32 million tonne, at an average grade of 14 g/t gold defined and documented, to JORC (Joint Ore Reserves Committee) Code reporting standards. Probable Ore Resources are 620,000 gold in 2.5 million tonnes at an average grade of 7.7 g/t gold.
The JORC Code is a mandatory system for classification of mineral resources and ore reserves for ASX listed companies and is regarded as best practice by the minerals Council of Australia and Securities Institute of Australia.
See full Gold Technical Report 2020 "Mineral Resources and Reserves 2020, Charters Towers Gold Project".(full report, click HERE)
This gold deposit is currently the largest high grade gold resource in Australia.
Focus is on Adding Shareholder Value
Unlocking the enormous value of the gold assets at Charters Towers for the benefit of shareholders is a key focus of our strategic plan. We have assembled a core team of leading mining professionals who are technically and practically skilled in our type of geology and mining operations. We are striving to be the best at what we do.
The Company has an extensive drilling database used to estimate the current 14 million ounce resource. Overtime, Citigold plans to use drilling and other exploration techniques on the major east-west multi kilometre long parallel reef "sheets". All the indicators are there, but we have to do the work to prove it.
Citigold's Charters Towers deposits will be developed through several inter-related and adjacent mines feeding a common gold extraction plant. The Central mining area is where next stage commercial production will start.
Citigold listed on the Australian Securities Exchange (ASX) in 1993, Citigold shares are quoted on the Frankfurt Stock Exchange, Germany.
Your Company has the potential to be a standout performer with substantial upside ahead. The relationship between Citigold and its shareholders aims to ensure that benefits from this success will be enjoyed by its current and future shareholders.
(Updated January 2021)