Citigold Prepares to Reboot High-Grade Gold Mine

Citigold Corporation Limited (AU:CTO) has released an update.

Citigold Corporation Limited is gearing up to restart gold production at its high-grade Charters Towers Gold Project in Queensland, Australia, which boasts a 14 million ounce deposit. The company has already committed over $300 million to develop the infrastructure and conduct test mining, yielding more than 100,000 ounces of gold. With efforts to raise additional capital for underground works, Citigold aims to tap into the deposit’s potential for long-term, substantial cash flow.

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