selling welcome, page-57

Re Goldduck's question on the ore sorter:
No, we haven't purchased one yet, and have not found one available for hire.
Yes, it is commercially available equipment, and was not developed by CTO. One machine we have trialled is manufactured by UltraSort in Sydney (they have a web site). Cost is around $1.4M to buy (depending on the model and tonnes per hour capacity) plus additional costs if it is installed underground.

It's a "nice to have" but not critical at this stage. It will be a waste sorter in our operation, rather than an ore sorter. It removes about 30% of broken tonnes as waste prior to milling, which is partly planned dilution (waste included in the minimum 1.2 metre designed stope width) and unplanned dilution (extra waste rock that sometimes falls into the ore after blasting). We still intend to install one eventually as it will reduce operating costs by hauling and milling less waste, but it was planned for the main operations under the City, rather than for Warrior. We have completed successful trials with the machine, mentioned in the 2002 Gold Production Plan.

I will answer what questions I can - I have to declare my name, position and vested interest as a shareholder and as an employee - there is no privacy for public company execs - our salaries and shareholdings are public knowledge, published in Annual Reports – other chat room posters apart from employees of brokers and financial advisers are allowed to remain anonymous but we are not. I am restricted by being limited to what has been released in the public arena through ASX releases. I will correct information where facts are wrong and point people towards our public reports for verification- I can't do anything about opinions, as opinions are not facts but personal interpretations, sometimes coloured by emotions or past history. The value of any such opinion is proportional to how much that person knows about the subject.
I am also limited by confidentiality agreements, commercial-in-confidence information and restrictions by ASIC and ASX regulations.
I also don't get time to visit chat rooms frequently, so my posts will be irregular.

DECLARATION:
I am an employee of Citigold, and a shareholder.
Chris Towsey
Chief Operating Officer
Citigold Corporation Limited