Ann: Half Year Report 31 Dec 2015, page-8

So who is the gold forward sold to?? Fortune of course, because
"In addition to the agreement of future refining of gold doré bars, which remains unchanged, Citigold agreed to increase the period from 3 years to 7 years for the 1% marketing fee paid to Fortune on its share of gold production."

They currently have approx. 250,000,000 shares available to issue under the 15% rule,( which would increase shares on issue to circa 2billion) until the next AGM when they can once again apply the 15% rule if ratified at the AGM and have another circa 300million shares available to issue I believe.

"ASX Listing Rule 7.1 provides that a company must not, subject to specified exceptions, issue or agree to issue more equity securities during a 12 month period than that amount which represents 15% of the number of fully paid ordinary

securities on issue at the commencement of that 12 month period.
Listing Rule 7.4 sets out an exception to Listing Rule 7.1. It provides that where a company in generally meeting ratifies the previous issue of securities made pursuant to Listing Rule 7.1 (and provided that the previous issue did not breach
Listing Rule 7.1), those securities will be deemed to have been made with Shareholder approval for the purposes of Listing Rule 7.1.
By ratifying these issues, the company will retain the flexibility to issue equity securities in the future up to the 15% annual placement capacity set out in Listing Rule 7.1 without the requirement to obtain prior Shareholder approval."

Wash, rinse repeat!!!

Of course it is all dependant on that which the Directors are Confident in achieving becoming a reality.

DYOR My thoughts and ramblings only​