Ann: Citigold raises $3.375 million , page-12

Good evening BernardJohn,we are all waiting to see production growth many of us have waited a good few years. I guess if you are only a recent buyer at current lows it could be worth a punt. As you are probably aware the company had been previously falling a tad short on its production / predictions of production subsequently all these previous predictions were withdrawn by management after a query from the watch dogs.They seem able to raise small amounts of cash each quarter to keep wages and salaries going but their success at producing gold is limited hence they changed from a miner back to an explorer about 12 months ago.I understand they have been trying to raise significant funds from interested parties ( unnamed) for the last year or so but have found this process very difficult.I would suggest a read over the past few years announcements / quarterlies will throw some light on what they hope / strive /want to achieve and what has actually been achieved. In fact it seems they can make more money from cap raisings and private placements than they can from gold production. The number of shares has doubled since beginning of 2006 from approx 500 million to currently 1 billion plus. A small amount of dilution for long term holders.In line with that we have seen the share price go from 58c in 2006 down to current levels, a tremendous effort by all concerned considering we have seen gold double in price in the same period.
Good luck with your punt.

DYOR My thoughts and ramblings only