Citigold Corporation is an Australian gold explorer and developer with a clear strategic plan to grow Citigold into a world class integrated gold company by:-
- Mining the existing 14 million ounce gold resource;
- Grow gold production to 300,000 ounces per year; and
- Expand the gold resource.
We have produced over 100,000 ounces of gold in test mining at Charters Towers. Our estimate gold resources and gold production plan indicate a long mining life of over 30 years.
The goldfield is a proven giant high grade gold system having prior to 1920 mined and produce 6,600,000 ounces of gold from an average 38g/t ore.
Some Key Information
- Our Charters Towers goldfield is the largest major high grade gold deposit in Australia.
- Citigold is the owner and operator of 100% of the central goldfield.
- Defined gold resources are 14,000,000 ounces (435 tonnes) of gold - JORC compliant.
- High grade gold deposit contained 32 million tonnes of mineralisation at an average grade of 14 grams of gold per tonne.
- Defined gold reserves of 620,000 ounces of gold.
- Mine life estimated at over 30 years based on size of gold deposit.
- Capital invested to date over A$200 million.
- Additional new external capital required. Balance of growth may be internally funded from cash flow depending on rate of growth.
- No gold has been forward sold, so no hedging risk.
- Citigold is very capital efficient based on cost of asset and gold mining infrastructure built to date.
- Core management and geology team are highly skilled in our gold deposit.
- Mine is located adjacent to a town of 8,500 people so all roads, power, water, accommodation and supporting business infrastructure is in place, so need for costly fly-in-fly-out.
- Environmental and operating permits are in place.
- Corporate strategy to develop project to add maximum value for shareholders and to be able to pay strong dividends to shareholders.
- NEWS articles worth reading for further information:
Citigold is listed on the Australian Securities Exchange (ASX Code: CTO).
Link Market Services maintains Citigold’s share registry. To manage your holding, please contact Link Market Services, quoting your Security Reference Number (SRN) which can be found on your statement of holdings.
Share Registry Contact Details:
Link Market Services Limited
Locked Bag A14, Sydney South NSW 1235
Phone: +61 1300 554 474 (toll free within Australia)
8:30am to 7:30pm - Monday to Friday (excluding Public Holidays)
Fax: +61 2 9287 0303