Have a look at info on the CTO site to try and find out whats...

Have a look at info on the CTO site to try and find out whats going on technically...

This is the justification for mining dated 2002!

With strong project management it should be feasible to subsequently mine this resource economically at the rate of 250,000 oz Au per annum, within normal bounds of mining risk.

Time for a re-think? Do you think?

JORC 2005
The continuity of grade within these structures is known to be highly variable and therefore grade continuity cannot be guaranteed without drilling of the structures at spacings that would be economially unviable, given that drilling would need to be up to 600 to 1500 metres depth and collar spacings of less than 25 metres to achieve a confidence level of 90% or better.

Citigold believes that it has quantified the risk of grade continuity in the Charters Towers project sufficiently to move more densely drilled areas into the Indicated Mineral Resource category.

Time for re-think?

And it still rankles when I read this..ewhy why why I keep asking to take this diversion and dilution of shares.

Citigold's has an exploration investment in the focused listed pure mineral explorer Gateway Mining Limited (ASX Code 'GML') through a 45% passive shareholding. This gives raw exploration exposure with the associated upside if Gateway is successful at one or more of its three main projects in Western Australia and New South Wales.

It was never explained how it met "Focus is on Adding Shareholder Value".

Now the AGM Resolution 4

Zhaojin Miniung gets 20,000,000 shares ($2M value) at $0.10. Raised ion 26 July. Given the current share price they could have just bought them on-market. Why not ? Because VCTO doesn't get the money, current sharehoilders get share price support.

As I understand, this means the 15% maximum limit is reinstated, i.e. nullifies or rests the clock so as to speak, because we had the disasterous;ly executed previous failed attempt at raising. So we can expect another 15% dilution wiothout the need to ask shareholder. PLUS, as we are that rare species that own a gold mine in a rising gold price environment yet still go broke, and need to mine some other poor prats pockets.

Resolution 5
Another 35,000,000 shares at $0.10 for "sophisticated investors" parked for later use. THis was for "working capital" or if you prefer "Capital to keep the MD working".

"You load sixteen tons, what do you get
Another day older and deeper in debt"

Lyrics Tennessee Ernie Ford, from "Cowboy Lyrics.com" ha ha..how appropriate.

While I am on a roll, what happened to negotiations for a larger deal that may see Zhaojin take a more substantial position in Citigold and its large 10 million ounce* gold deposit and mining operations at Charters Towers...?

...and where did the following go? Citigold heaven?

31 May 2010: Brisbane, Australia � Citigold Corporation
Limited (Citigold) (ASX:CTO, FSE:CHP) is pleased to advise that it is in the final stages of completing a $18 million capital raising.

...maybe purgotory. Limbo?

Then this. Now if I was this Chinese company I'd get pretty rightly indignant.

19 May 2010: Brisbane, Australia � Citigold Corporation Limited (Citigold) (ASX:CTO, FSE:CHP) advises that it has signed a binding Letter of Intent (LOI) with Henan Jinqu Gold Company Limited (Jinqu), China.

..because three months later CTO kicked them out saying Jinqu wasn't working at internationally expected standards.

Maybe.

And how is this going since before June (announced in June Quarterly)??

Of particular interest is the success of the new development plan for the Sons of Freedom reef where the declines are located in the ore body, eliminating
the majority of waste development. This, along with the plan to adopt the same method to increase ore headings on the Warrior reef, should assist lifting ore and gold production by the end of 2010.

and ...individual high grades of several hundred grams per tonne in the vein carrying the entire working face at up
to 37 grams per tonne gold. These higher grades of over 1 ounce to the tonne will go through the processing plant in the next Quarter as the faces are developed.

did they??? How would we know??

Finally..please define "good" in the JUne Quarterly
...
The coming year should see a good increase in gold output