(YorkPedia Editorial):- London, Apr 30, 2019 (Issuewire.com) – As many mining companies seek new ways to raise capital and bring participants into their story Citigold Corporation (Citigold) has opted to launch an Initial License Offering (ILO) to bring attention and mass marketing to the unique features they have as a modern day and forward-thinking gold mining company.
ILOs are unique. They combine new capital in the form of license sales with the additional benefit of marketing and the promotion of the story to a mass market. ILO units are offered for sale on the ILOCX platform at www.ILOexchange.com
“Citigold has a great ILO, however, at first we didn’t think we could list it as it was a gold mining company and, usually there is little that is unique about gold mines. After meeting with their management, I understood this was not an ordinary gold mining company. They are completely unique in their extraction process using their own tech and processes to reduce cost, risk and any harm to the environment. Citigold have the ability to effect massive change in the sector and this is what the ILOers buying Citigold will be promoting.” said Edward Fitzpatrick CEO of ILOCX.
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The mine has a 30-year life based on the reserve. Citigold has already invested 200m AUD (approx. £100m) to date with none of the gold forward-sold or hedged.
Citigold have issued a 5-year license to potential buyers (ILOers) offering a 12% royalty in year 2 and 10% in years 3, 4 and 5. ILOers qualify for royalties when they participate in the mass promotion of the company. Each ILO unit costs $1000 and if the company reaches their projected revenue numbers at the end of year two, this should provide a royalty payment to each qualifying ILOer of $73.20. In year 3, the royalty would be $178.00, increasing to $205.00 in year 4 and then finally $262.00 in year 5. This will value the ILO at almost 3 times the original price after the royalties, with a further upside in the transfer of IP, tech and knowhow to other mines around the world. ILOers can have a major impact on this company and this sector while owning a license secured in gold in a professional established company.
The ILO is secured on physical gold in the ground, Citigold Corporation has the opportunity to transfer their IP and know-how to other mines around the world. In addition to the royalty payments on this ILO, Citigold gives each license holder the first right to buy into all future spin-offs and use cases issued on ILOCX. More information about this can be found here https://iloexchange.com/learn_more.php?ilo=Citigold
John Foley Citigold Corporation director said, “This story needs to be told and discovering ILOCX was a way for us to do that. Not only will we get the capital we need to extract the gold, we will do it efficiently and cleanly with no risk to the environment using unique Solar Tech at the mine surface to create key economies and safety measures. We are excited to be adding large scale efficiency measures in the field of gold mining while doing the same in our capital and marketing structure using the ILO created by ILOCX.”
Citigold Corporation is an Australian Gold Mining company operating in the country’s highest grade and major goldfield at Charters Towers in Northern Australia. They are listed on the ASX and own Australia’s largest high-grade major deposit with mineral resources of 11 million ounces of gold.
+61 7 38 39 40 41
86 Brookes Street Fortitude Valley QLD 4006 Australia
This Press Release was originally published by IssueWire. Read the original article here.