Perth entrepreneur Tony Sage has muscled in on an ex-United States congressman’s bid to take control of Queensland miner Citigold, calling a shareholder meeting to topple the board and restart production at what was once one of the world’s richest gold mines.
Citigold’s Charters Towers mine produced 6.6 million ounces of gold between 1872 and 1917 – worth roughly $38 billion at today’s prices – but has been mothballed for a decade and its operations are flooded.
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