M&A

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.

Nick Evans
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 the...

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