Just in the inbox,,,,, Restart the "Gold" mine
Just checked the calendar and it's not April the 1st.
Not sure if it is a dream or a nightmare , I think the last one wins.
▪ Mine location is Charters Towers, Queensland, Australia. ▪ Initial Mine operating life estimated ~15 years ▪ ‘Central Mine’ initial gold production of 600,000 ounces first 5 years from ore reserves. ▪ Planned gold production year 5 and onwards is 218,000 ounces yearly. ▪ From Year 6 and onwards gold production is planned to come from current ‘Central’ Inferred Mineral Resources of 25 million tonnes @ 14 g/t for 11 million ounces¹. The gold production of 2 million ounces is approximately 20% of the Resource and is reasonably expected to be upgraded to ore reserves over time with additional geological and mining information. This is based on our trial mining experience, ore processing, known multiplicity of gold reefs, our whole of goldfield’s 150 years geological database, and the budgeted exploration drilling of $17 million annually in year 5 and onwards. ▪ The average mined ore grade is budgeted at 7.7 grams per tonne ore (existing ore reserves
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Gold Mine Restart
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Citigold presents its Gold Mine Restart Report.
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Click Here to download the 22 page Gold Mine Restart Report.
Cautionary Note: This release may contain forward-looking statements that are based upon management’s expectations and beliefs in regard to future events. These statements are subject to risk and uncertainties that might be out of the control of Citigold Corporation Limited and may cause actual results to differ from the release. Citigold Corporation Limited takes no responsibility to make changes to these statements to reflect change of events or circumstances after the release.
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CTO Price at posting:
0.5¢ Sentiment: Sell Disclosure: Held
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