Additional Information
Market: ASX
Sector: General Mining - Gold
EPIC: CTO
Latest Price: A$0.05  (-1.96% Descending)
52-week High: A$0.09
52-week Low: A$0.05
Market Cap: A$55.25M
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Citigold Corporation
www.citigold.com

Citigold Corporation is an Australian gold mining company producing from Australia's highest grade gold deposit at Charters Towers in north eastern Australia.

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Citigold increases stake in Gateway Mining

22nd Sep 2009, 9:51 am

As a result of acceptances of its all scrip takeover offer for junior Gateway Mining (ASX: GML), Citigold Corporation(ASX: CTO) now has 18.17 million fully paid ordinary shares in the target, representing a 15.6% shareholding.

The Brisbane-based gold producer and explorer, which has offered two Citigold shares for every five Gateway shares, informed the ASX it had picked up 1.87 million shares as part of the takeover bid.

Directors of Gateway have recommended that shareholders reject the offer, which unless extended closes in early October.

Citigold has issued capital of about 842 million shares and a current market capitalisation of $140 million and Gateway has 110 million shares on issue and a market capitalisation of about $8 million.

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