As predicted, the GML rejection recommendation further...

As predicted, the GML rejection recommendation further undermines the credibility & capacity of CTO management.


"More significantly, while the position may now have improved following a subsequent capital raising, Citigold disclosed in its Quarterly Report to the ASX for the 3 months ended 31 March 2009 that its “cash on hand and at bank” had dropped to an alarmingly low level of just $74,000."

"...the 12 month daily closing prices and 20 trading day moving averages of the closing prices for Gateway Mining and Citigold. This clearly shows a general downward trend of Citigold’s share price since reaching its peak of $0.33 on January 5, 2009. This downtrend appears to be still continuing."