Pump and dump IMHO , only about 8% of the shares on issue have been traded. Something else I found interesting in the DEAL was that All Gold Produced is to be sold to KIG at market prices! What is the reason behind this?
Once again the deal is not done till the money is received, we know from past experience with ELM aka Mr O0i KOK ,there were no more payments after the initial installment of $10mill was completed in September 2013.
Given the market cap prior to the announcement of the JV was circa $22mill (1.4c/share)why wouldn't KIG have made a takeover bid at say 4c/ share which would have been a premium to the share price of approx. 170%. Not being privy to the full agreement there are more questions than answers.
DYOR My thoughts and ramblings only.
Ann: Citigold enters $72 million Agreement, page-29
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