removal of directors

I have been a Citigold shareholder for a number of years, and enjoy reading posts about CTO, whether for or against the company.

We have a great company with enormous potential, but unfortunately it is being managed by an incompetent board of directors that lack honesty, communications skills and managerial expertise.

It has taken Citigold far too long to progress from prospector to producer due to the non-performance of our directors. Both shareholders and investors have completely lost confidence in the board of directors, which is reflected in the poor performance of the share price. Over the years, all the directors have accomplished is promise, promise, and promise, but failed to deliver.

As our directors have failed us miserably, perhaps, we, the shareholders should consider replacing them with a more competent and honest board of directors. It is the duty of our directors to ensure that gold production is increased, prove up our resources, release the overdue results of the deep hole, and keep us the shareholders fully informed.

There should be no more excuses, as the directors have raised $11.4 million dollars from the SPP, abundance of elctricity power etc. In my opinion, it is time to put an ultimatum to the board "Perform over the June and September quarters, or be replaced".

If our directors fail us again, we should stop complaining and take appropriate action. Under Section 249B of the Corporations Act 2001, all we need is 100 Citigold shareholders to unite, and request for the calling of an extraordinary general meeting to vote on the removal of the current board of directors, and replace it with a board of directors of our choice.

The ball is in the directors' court to perform or resign / or be replaced. If the directors fail again, the proposed action should be considered.

I personally have faith and confidence in the assets of our company, and will continue to support Citigold (under an improved current board of directors, or a new board of competent directors).

Eventually our company will progress, and will be a great Australian gold producer, with the share price increasing to great heights which is deserved.

Good luck to all Citigold shareholders.