dream time stories

Proative Investor Q&A 26/08/09



Proactive Investors:
In the March 2009 quarterly, Citigold provided a short term quarterly gold production plan of annual gold production of 25,000 ounces in 2009; 85,000 ounces in 2010 and 160,000 ounces in 2011. The ramp-up is considerable relative to current production. Are these targets based on the staged
development of the Warrior, Brilliant, Sunburst, and Day Dawn reefs? Can you indicate how these targets are likely to be met and the confidence level behind them?

CEO Mark Lynch:
The ore planned to be mined in 2009 is already drilled and the development of the tunnels to access the ore are well underway. Over the last two years at Warrior, we have developed a mining method and attack plan suited to our Charters Towers gold deposit. The mining method has evolved into a more efficient method to what we started with two years ago.
This same design strategy will be used for the Brilliant, Sunburst and Day dawn Reefs. The production growth in 2010 will be from Warrior and the Imperial reefs. The Sunburst, Brilliant and Day Dawn are all planned to be accessed from the Central (second) decline and therefore will share common
infrastructure and follow in succession. Budgets show that growth above 50,000 ounces a year can be all internally funded from gold production cash flow.

DYOR and do a lot of it.