Citigold Corporation (ASX: $CTO) Quarterly Report Highlights

Citigold Corporation Limited (ASX: $CTO) has released its Quarterly Report for the period ending 31 March 2024, dated 29 April 2024. The report highlights the company's focus on optimizing the design and engineering of the Central Mine, with plans to recommence the exploration program post-quarter end. The company continues to advance its core activities, including broad regional exploration programs, mine design, engineering, and working to restart its gold mine.

Executive Commentary on Quarterly Activities

The mine planning and engineering activities during the quarter have been crucial in optimizing the stope distances and the overall mine plan for the Central area of Citigold's mining tenements. We are committed to spending the necessary time to ensure the mine operating costs are well managed. Additionally, we are pleased with the progress in the exploration program and the identification of priority areas for future intensive exploration. The company's aim is to become a 300,000 plus ounces per annum ultra-low-cost gold producer, utilizing state-of-the-art technologies and efficiencies, while prioritizing substantial profits to shareholders in harmony with the local environment.

Summary of Quarterly Report and Outlook

The Quarterly Report from Citigold Corporation (ASX: $CTO) emphasizes the company's efforts in optimizing the design and engineering of the Central Mine, as well as the plans to recommence the exploration program post-quarter end. The company aims to become a 300,000 plus ounces per annum ultra-low-cost gold producer, focusing on utilizing advanced technologies and efficiencies to ensure substantial profits to shareholders while maintaining harmony with the local environment. With no significant environmental, health, or safety issues during the quarter, the company continues to demonstrate its commitment to responsible mining practices. Citigold's focus on exploration and development activities, along with its financial discussions and capital raising, reflects its dedication to advancing its core activities and achieving its production-ready status.