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Investor Introduction

ml half_goldbar Citigold Corporation is an Australian gold developer with a clear strategic plan to grow Citigold into a world class integrated gold company by:-
   1. Mining the existing 11 million ounce gold resource;
   2. Grow gold production initially to 220,000 ounces per year; and
   3. Expand the gold resource towords the target potential of 50 million ounces.

A 220,000 ounce gold producer with annual revenues of over $350 million a year is our initial overall goal. We have produced near 100,000 ounces of gold in trial mining at Charters Towers. Our defined gold resources and gold production plan provides for a long mining life of over 30 years.

The goldfield is a proven giant high grade gold system having mined and produce prior to 1920 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 goldfield.
Defined gold resources are 11,000,000 ounces (342 tonnes) of gold - JORC compliant.
High grade gold deposit contained 25 million tonnes of mineralisation at an average grade of 14 grams of gold per tonne.
Defined gold reserves of 620,000 ounces of gold.
Cash mining cost estimated to be under A$400 per ounce at full production.
Mine life estimated at over 30 years based on size of gold deposit.
Long term exploration upside targets 50 million ounces (1,600 tonns) of gold.
Capital invested to date over A$200 million.
Additional new external capital required to reach initial stage production rate of over 220,000 ozs/year estimated at $60 million. 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 infrastucture built to date.
Citigold core management and mining 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 often 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:
 
1. 11 million ounce (342,00 kg) Gold Deposit - click HERE
2. Low Cost Advantage - click HERE
   


(Updated August 2016)