CTO raised a $3.725 million dollars in late May:"26 May 2007:...

CTO raised a $3.725 million dollars in late May:

"26 May 2007: Brisbane, Australia – Citigold Corporation Limited (Citigold) (ASX:CTO, DIFX:CTO, FSE:CHP) is pleased to announce that the Company has raised A$3,725,000 through a share placement to international investors.

This placement is inline with the Company’s regular bi- annual capital raisings and replaces the usual first half 2008 share purchase plan. The successful placement was for 13,303,571 ordinary shares, plus 1,330,357 unlisted options exercisable at $0.37, raising a total of A$3.725 million.

The shares were placed to international investors and several funds, based out of London and the Asia/ Pacific region.
The funds raised will be used for working capital including the initial extension of the Charters Towers South western decline and related infill diamond core drilling program. These works are aimed at growing gold production..."