They must be reading this thread.
CITADEL’S EXPLORATION AND DEVELOPMENT EFFORTS CONTINUE TO DEVELOP THE GOLD ASSETS
CITADEL IS EXPLORING AND DEVELOPING TWO OF ITS MOST PROMISING GOLD PROJECTS – PRELIMINARY EXPLORATION HAS COMMENCED ON SEVERAL OTHERS.
I agree jman, seems they're jumping on the au bandwagon recently, which we suggested, but they're telegraphing it a bit much perhaps.
Still, good intersection and grades.
They need to do something though to gain some interest.
Languishing down in the sin bin at the moment.
Any idea when an initial JORC might be out?
Perhaps I should call the boss and not be lazy.....
I'll call tomorrow to ask for an update. If they did declair that, as you have found, and not given an update, pretty poor darts really. Doesn't take much to keep on top of your goals, and keep the market informed on why you have failed to achieve them. Perhaps they are one of those companies that just assume no one reads the anns, like a KMN. I doubt that, as they seem to keep the market well informed normally, just their focus has been the copper job. Until now cu has crumbled and au has held up....In their 08 Annual they said Q4 2008 for a resource estimate, which has obviously been and gone. A target porential of 500K+oz was also mentioned. They're supposed to be getting a diamond rig over that way this week to start testing some of the deeper targets, it will be very interesting if the grades hold up down plunge as they're hoping... well more interesting than twinning old high-grade holes anyway:
I'll call tomorrow to ask for an update. If they did declair that, as you have found, and not given an update, pretty poor darts really. Doesn't take much to keep on top of your goals, and keep the market informed on why you have failed to achieve them.
Completely overlooked this the past 2 weeks.Any luck speaking to these guys kennas?
Feasability Study on JS is out and they say its viable at current cu prices, which is pretty positive. Especially if you think cu will head higher once global growth turns around in the coming few years, when they are producing. Could go down too I suppose...
Someone must have pointed this stuff out for them to go to this trouble. A geo comment j?
Crikey!!!Trading Halt.
Capital raising.
I thought they had some cash in the bank?
I hope for holders the raising is at a decent price and you get to join in any discount allotment. Hopefully it's not just for the sophisticamacated!
$22m!!!!!!!!!!!!!
And yes, to instos, at a nice discount. Punters get hammered once again!
Getting a little frustrated with these juniors progressing at snail pace, giving nada back to their majority holders!
Thought this raising to be a good outcome.
The feasibility on the leach project showed $15m of capex required and the company didn't want to have debt based project finance.
The fact they could use the high gold price environment to get $22m in new cash means they go green light on a gold project while still having cash to complete Sayid BFS and further exploration; rather than one or the other.
The price was horrible, but shows how hard it is attracting $20m in new equity for a junior. They will need at least another $50m to fund Sayid copper in the next twelve months (75% of total finance provided is meant to come from the Saudis) - so better to be raising the extra dollars as an imminent producer of 50,000oz at US$380 than to be a company with no cash, a 10c share price and a completed BFS.
Something fishy on at CGG I reckon. Significant increase in volume and breaking through the 15.5 mark, at 17.5 intra day. Or, could be just people taking advantage of the sell off. Not sure what anns are due off the top of my head.
Will probably completely fall over now. LOL
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