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Hi Bogan
Mood was generally positive, fuelled by a nice lunch in the hour leading up to the meeting, with all senior company personnel available to talk to shareholders.

All resolutions passed on unanimous show of hands, with proxies similar (see today's announcement) - about 98% in favour of re-electing Terry Willsteed as Director, 83% in favour of the remuneration report, 98% in favour of changing auditor. Not many proxies actually against - most not in favour were open (Chairman's discretion, which would be in favour) or abstentions (why abstain? - if not in favour, vote against!)

Presentation by Mark Lynch on past year and a bit of information on looking forward. Noted record high Australian gold prices, and how Citigold's share price tracked the ASX Gold Index and also matched major companies such as Lihir. Company well positioned for future - no bank debt, unhedged, record Australian gold prices with costs in Aus dollars, growing production, most equipment already purchased etc.

Some good questions asked - how sure is the company that its 10 Moz are real? Mark Lynch replied that it was based on 1800 drill holes and recent September Quarterly stated that Snowdens and Coffeys had reviewed the methodology used and found it acceptable.

One persistent shareholder had a whole raft of comments and questions, relating to Directors options, how the ounces for the grant of options had been calculated (reply -based on ounces milled), why were they changing auditors (reply - too expensive - last year was $30,000 in auditors fees, this year some $90,000 to $100,000 according to Matthew Martin, Co. Sec. John Foley recorded in minutes that auditors had done a very good and professional job), why was the 18% sold so cheaply to Dubai Group, share price had not done well even if it was better than many others, etc etc. Crowd grew restive and started to howl him down after his fifth or sixth criticism. Interesting that the same shareholder did not vote against the resolutions on the show of hands, just abstained.

Question asked by someone else on what was the company's dividends policy. Mark Lynch replied that in the current uncertain market and unpredictable gold price that no policy had yet been formulated, and ask again next year. Shareholder agreed he would ask again!!

Meeting wound up with lots of happy shareholders looking forward to better year and dividends sometime(!)