The company acquired the stake through its subsidiary K Sera Sera Holdings, Australia.The stake has been acquired for almost $6 million from the open market. The investment is a part of the company’s strategy to diversify its exposure to the mining sector.
Citi Gold has a JORC complaint gold resource of 10 million ounce (310 Metric Tonnes). It has a current market capitalization of approx. over A$115 million.