Citigold Corporation Limited recently advised that it has entered into a binding agreement for the contract sale and delivery of up to 100,000 ounces of gold (“the gold”).

This sale of the gold, if fully drawn by the purchaser, is expected to bring in approximately $100 million to Citigold at current gold prices. The gold sold is deliverable over the next 5 years (“the period”). The gold is being purchased by a controlled subsidiary of the principal Aaron Data Systems Inc, USA (“the buyer”).

This transaction, if fully drawn by the purchaser, would provide the full working capital for the growth of gold mining on the Company’s high-grade Charters Towers goldfield project into the targeted 220,000 ounces per year ultra low-cost gold producer.

As previously advised the Company is in funding discussions with potential interested strategic partners and the Company expects these will continue as additional complementary discussions to further financially enhance the Company’s growth.

To view the full release or for more information please click HERE or visit our website at www.citigold.com