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Firms advise on golden investment
Mallesons Stephen Jaques and Brisbane-based Hemming & Hart Lawyers have advised on a $50 million investment into a gold mine in Queensland.
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Firms: Mallesons Stephen Jaques (Reignwood International Investment Group), Hemming & Hart Lawyers (Citigold)
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Deal: $50 million investment by privately owned Chinese corporation Reignwood International into Citigold Corporation to fund the development of its 10 million ounce gold mine at Charters Towers, Queensland
Area: Finance
Value: $50 million
Key players: The Mallesons team was led by partner Craig Semple, who was supported by solicitors Shelley Goldwasser and Daiwei Shi
Deal significance: The funds raised will be used to transform Citigold’s Charters Towers gold deposit into a world class large-scale gold mine with significant annual gold production through re-commissioning the Central mine and expanding operations at the Imperial site. Following receipt of the placement funding by Citigold, Reignwood will be entitled to nominate three directors to the Citigold Board.
