CEO Mark Lynch:
An interesting perspective. There seems to be a lot of miss-information in the marketplace about Citigold, including that our deposit are similar to the well known Victorian big goldfields and that we may suffer similar difficulties that Harmony and Lihir faced, and therefore walked away from.
Our deposit has its challenges and we are working through them. The uneven distribution of gold in the fractures takes a lot of getting one’s mind around. When we opened up Warrior it looked different to what we thought and therefore we changed how we attacked it. The high grades and mineral characteristics displayed in the central reefs were the same. But the very high localised grades had not
shown up in the drilling. I guess the difference is that despite all the detailed old plans reopening the old workings and trial mining the cross-reefs, to now actually see the ore in situ in the east-west reefs was amazing. Good, but different. As gold production grows, those watching will see that we are different from the others. Possibly someone is waiting to lets us do all the hard work first and prove large scale mining!.
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