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Citigold Corporation Limited (ASX:CTO)

ALERT: Price-sensitive ASX Announcement for CTO
Current share price for CTO : $0.013 -0.005 (-27.78%)+
Announcement
Release
29 Apr 2026 12:39PM
Price at Release
$0.018
Full Release
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Summary
Citigold Corporation Limited, an Australian gold exploration and development company, focuses on the Charters Towers Gold Project with the aim to restart mining operations and produce over 300,000 ounces of gold annually. The company engages in exploration, mine design, and engineering to enhance its operations. The quarterly cash flow report indicates a net cash outflow from operating and investing activities, with a remaining cash balance of $80,000. Citigold holds extensive mineral tenements and is working on financial strategies involving secured loans. The company plans to refurbish the Central Decline and pursue further exploration activities to expand resources.
Key Points
  • Citigold Corporation Limited aims to restart its Charters Towers gold mine.
  • The company focuses on high-grade gold production with a target of 300,000 ounces per annum.
  • Exploration and development activities continue, with ongoing efforts to optimize mine design and engineering.
  • The quarterly cash flow report shows net cash used in operating activities at $34,000 and investing activities at $29,000 for the current quarter.
  • The cash and cash equivalents at the end of the quarter amounted to $80,000.
  • Citigold's financial activities include secured loan facilities with high interest rates.
  • No significant acquisitions or disposals of tenements occurred during the quarter.
  • Planned further work includes refurbishing the Central Decline and engaging in regional exploration.
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.