*PRICE PER LICENSE DURING INITIAL OFFERING
Citigold Corporation is a major gold mining company operating in North Eastern Australia. Our Charters Towers goldfield is the largest major high grade gold deposit in Australia. We aim to increase our size and valuation over the next few years, by expanding our mining operations in the Charter Towers region.
Citigold is the owner and sole mining operator of the Charter Towers goldfield, and has invested over $200 million to develop the project.
The Charter Towers region is ideal for mechanized mining, consisting of hard rock and requiring minimal water drainage. Below the surface most of the goldfield remains untapped, and is expected to yield 342 tonnes of gold at 14 grams per tonne, and 17 tonnes at 7.7 grams per tonne.
Test operations have already extracted 100,000 ounces of gold, aiming for an initial production of 220,000 ounces a year, moving swiftly towards our goal of over 300,000 ounces per year. We aim to achieve this goal in the next 5 years.
Citigold aims to be an ultra-low cost gold producer. At full production our mining costs are estimated at less than $400 per ounce, with an expected mine lifetime over 30 years.
For a purchase price of $1000 you receive 1 license. We are committed to pay royalties on revenue received by Citigold of: Yr.1: 12% Yr.2: 10% Yr.3: 10% prorated based on the number of units owned by qualified license holders.
Our projected estimated revenues are as follow:
Projected ILO Value
In addition to paying you a royalty, at the end of the 3rd year we can choose to extend the license for another 3 years, or buy the ILO back for cash should we conduct a major financing.
ILO Value is the estimated value of your ILO in USD ($). This is calculated using our projected revenue numbers. Therefore if our revenue projections are realistic and achievable, this is a good estimation of the buy out price you should expect at different stages.
May 24, 2019 - Citigold Moves Towards Ultra-Low Gold Production - Citigold is conducting underground exploration operations in preparation for low-cost mining using cutting edge technologies.
April 24, 2019 - Australia’s Key Mining Projects And Expansions - Citigold plans to expand its Charter Towers Central project, growing into an operation producing 218,000 ounces of gold a year.