You are dreamin! No spin, everything they put out is spin, the fact is if the 10,000,0000z are there and are recoverable they do not have the finance to do it and do not look like getting the $70million odd they will need to do it.Fin Report 30/6/10. They need professionals there with the expertise, cash and overseas contacts they eluded in their Corporate update on 17/08/10.
"It is anticipated that a stronger partner, both in mining skills and international dealings, will help ensure the initial re commissioning of the City Mining area in a time efficient manner."
What is considered a time efficient manner? 10 years plus at this stage and we have 2 years to be up and running, when does the clock start ticking on the 2 years? Financial Report 30 June 2010
What has happened with all this?
"From June 2010 Quarterly"
"There is considerable interest by international companies to join Citigold in the development of the Charters Towers gold field including the City and Imperial mine areas. Citigold is working with several parties who are at various stages of negotiating funding opportunities in Citigold."
A few million here and there is not funding, it is speculation. IMHO DYOR. My ramblings only.
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