The ASX listed company CitiGold has advised the market of its intentions to raise around $100 million to develop its gold project in Charters Towers, Queensland.
EBA (Euram Bank Asia) has now been appointed by CitiGold as the financial adviser to assist with implementing the best financial structure for the raising and development funding of this gold project.
The capital raising would be coordinated by EBA with them likely to include equity, debt, joint venture, hybrids or a combination as funding options.
A key purpose of the $100 million development funding was the high grade gold deposits reopening in the central City mine area which is located underneath Charters Towers. This would also mean that the current Imperial mining area would also be increased which will then provide two major mines adjacent that are able to access the majority of the projects 10 million ounces of resources.
There are two sites operated by CitiGold at the Charters Towers site which include the gold extraction plant and underground mine.
– Full Story:
http://www.miningweekly.com/article/citigold-seeks-up-to-100m-for-charters-towers-gold-project-2011-06-01
Charters Towers 