Citigold to spin out Charters Towers

CITIGOLD intends to spin out its Charters Towers gold project in Queensland into a new company to push the development at the site, with Chinese business Henan Jinqu Gold Company set to take a 50% stake in the project.

Citigold to spin out Charters Towers Citigold to spin out Charters Towers Citigold to spin out Charters Towers Citigold to spin out Charters Towers Citigold to spin out Charters Towers

The company has struggled to raise the capital needed to fund the project, launching a share purchase plan in late January but then extending the SPP’s deadline shortly before it was due to close at

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