Ann: Institutional Funds Invest in Citigold , page-7

Siamese,
We would all like to see those questions answered but I dare say we will not be enlightened. In particular I would like to know how much each individual Fund and Institutional Investor has actually invested but I guess there will be some "In Confidence Clause".

From The June Quarter Report

Estimated cash outflows for next quarter

$A? 000

Exploration and evaluation 1,500

Development 1,500


Production 1,000


Administration 700

It would seem they are only looking at 2k oz's gold again in the current quarter based on there production cost estimate so it would appear that the $3.5mill will probably just keep things ticking over. Having said that they estimated up to $70mill and 24 months to get City developed, at the rate they are raising capital who knows how long before if at all we will see any significant gold production. I still cannot understand why, given the 10mill oz's and 200k to 300k oz's per annum that are being talked about has not excited the Institutional Investors, huge upside on a 10c share.

DYOR. My thoughts and ramblings only.