Asia
Citigold Receives Notice of Default on Secured Loan Facility, Shares Fall 8%
Citigold (ASX:CTO) said it has received a notice of default in relation to its secured loan facility from DEP Nominees, as a trustee for the Carmen Trust, with the company currently in discussions with the lender regarding settlement of a facility totaling AU$1.7 million, according to a Monday Australian bourse filing.The company said it is also in discussions with funding parties to provide funds to settle the secured debt and is actively working to resolve the matter.The lender has exercised its rights to remove the current directors of the company's unit, Charters Towers Gold, which does not hold any mining titles at Charters Towers, it added.The company's shares fell 8% in recent Monday trade.
ASX:CTO
