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Citigold Corporation Limited (ASX:CTO)

ALERT: Price-sensitive ASX Announcement for CTO
Current share price for CTO : $0.011 0.007 (175%)+
Announcement
Release
30 Jan 2025 9:42AM
Price at Release
$0.004
Full Release
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Summary
Citigold Corporation Limited is focused on the high-grade Charters Towers Gold Project, which is production-ready after completing test mining and establishing its mine site. The company aims to produce over 300,000 ounces of gold annually while ensuring environmental harmony. During the reporting period, activities included exploration, geophysical data analysis, and preparation for future fieldwork, with a focus on enhancing exploration outcomes through new techniques. The cash flow report indicates expenditures on exploration and administration, alongside details on cash reserves and capital raising efforts.
Key Points
  • Citigold Corporation Limited focuses on the Charters Towers Gold Project.
  • The project is production-ready after successful test mining.
  • The company aims for over 300,000 ounces of gold production per year.
  • Exploration activities included site inspections and analysis of geophysical data.
  • A focus on improving exploration techniques and cost-effectiveness was highlighted.
  • The cash flow report reflects expenditures on exploration and administration.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.