From the 2017 Annual Report Citigold Corporation Limited...

From the 2017 Annual Report

Citigold Corporation Limited (Citigold) is an Australian gold mining and
exploration company, operating the high grade Charters Towers goldfield in
north east Australia, 1,000 kilometres north of Brisbane, Queensland, and 130
kilometres south west from the major coastal port of Townsville.
The Company’s prime focus is the Charters Towers Gold Project. The Project
comprises 11 million ounce gold deposit, with an Inferred Mineral Resource of
25 million tonnes at 14 grams per tonne gold and 620,000 ounces of gold in
the Probable Ore Reserve (2.5 Mt @ 7.7 g/t Au at a 3 g/t cut-off).
The Charters Towers Project is one of Australia’s largest high grade pure gold
deposits.
The Company does not require additional mine acquisitions to sustain long term
gold production. Citigold has already invested over $200 million in acquiring
the gold deposit, developing the infrastructure and mines at Charters Towers.
Trial mining operations have produced over 100,000 ounces of gold.
The development fundamentals remain robust with the gold production plan
having an initial target of 50,000 ounces per annum building up to over 220,000 ounces of gold production per annum in year 5.

In order to move back into gold production we continue to plan for the resumption of mining gold at Charters Towers.
The Company is seeking to raise circa US$100 million. The use of funds is
principally to complete the underground capital expenditure program to
facilitate the gold production target of 222,000 annual ounces. The business
plan and capital expenditure program shows gold production to commence
within 10 months of the injection of the required capital.
The Charters Towers gold deposit is large and forecasts show that it has the​

potential to generate substantial positive cash flows for decades. This will help
generate large returns for all shareholders over time.


They cannot decide if they going to be producing 218k ozs, 220k ozs or 222 k ozs and not sure weather it will be 10 or 12 months before production.

FFS do they not proof read reports, I think they get confused with all the cut and pasting from previous years and current year.

Do people actually believe this crap?

DYOR My thoughts and ramblings only.