Citadel Resource Group (CGG)

Shares / Stock Code

CGG

Stock Exchange / Sharemarket

Australian Securities Exchange

Citadel Resources Group (CGG) acquires major stakes in several Saudi Arabian minerals projects. The company has entered an agreement to acquire 100% of the Bahrain-based Vertex Group which holds major interests in 10 copper, gold and base metals projects near the Saudi Arabian coast of the Red Sea. CGG was previously a provider of funding to a medical scanning business operated by Prescription Healthcare Limited and its wholly owned subsidiary company trading as Lifespan Medical Imaging.

The Company is engaged on the development of the Jabal Sayid copper and gold project, and the exploration for base and precious metals on the Arabian Shield in Saudi Arabia. The Company operates in the mineral exploration segment in Australia and Saudi Arabia. The Company’s subsidiaries include DBC Finance Pty Limited, ADV Medical Holdings Pty Ltd, Vertex Group (Middle East) WLL and Bariq Mining Limited.

Citadel Resources Group History

This company was listed on the ASX on 29 January 1988 as a multinational media service company. CGG the changed its strategic direction as a provider of funding to a medical scanning business. On 27 May 2005, CGG gained management control of the business formerly operated by PHL after it defaulted on its loan repayments. In late 2006, the company announced the planned sale of the company's medical imaging centre in Sydney and the acquisition of Vertex Group (Middle East).

Citadel Resource Group (CGG) Products and Services

  • Exploration for copper, gold and other base and precious metals on the Arabian Shield in Saudi Arabia

Citadel Resource Group (CGG) Locations and Subsidiaries

Citadel Resources Group Head Office
Level 12, 350 Collins Street,
MELBOURNE, VIC 3000

Phone: (03) 8680 4601
Fax: (03) 9642 0800

Citadel Resource Group (CGG) Share Price

Submitted by ASX Listed Company on 9 March, 2010 - 03:20

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