Fortbridge Media ReleaseCitigold Corporation [ASX: CTO] - Alliance with Euram Bank AsiaCitigold Corporation Limited (ASX:CTO, FSE:CHP) has formally appointed Euram Bank Asia Limited (EBA) as financial advisor in relation to raising up to $100 million for the development of the Charters Towers Gold Project.
Euram Bank Asia, a global corporate finance and investment bank, is part of the European American Investment Bank AG (Euram Bank) group of Vienna, Austria.
Citigold has engaged EBA as exclusive financial advisor and arranger to assist with the implementation of the best financial structure for the major development funding of the Charters Towers Gold Project. EBA will coordinate the capital raising with their stated interest being the long term wealth success of their client. Funding options may include joint venture, equity, debt, hybrids or a combination.
A key purpose of the $100 million development funding is the reopening of the large high-grade gold deposit in the central City mine area underneath Charters Towers. The current Imperial mining area will also be expanded thereby providing two major adjacent mines capable of accessing the majority of the Projects 10 million ounce gold resource.
EBA and Citigolds management will work together to ensure the world class Charters Towers gold deposit is promptly developed to its full potential and transform Citigold into a major gold producer.
For further information, please contact:
Matthew Martin
Company Secretary
Citigold Corporation Limited
Tel: +61 7 3834 0000
Media:
Peter-John Lewis
Fortbridge
Tel: +61 2 9331 0623
Mob: +61 416 290 604