Citigold Corporation Limited

Australian Market Report of November 15, 2010 includes: OneSteel Limited (ASX:OST) is to acquire the Moly-Cop and AltaSteel businesses to focus on the mining consumables sector; Citigold Corporation Limited (ASX:CTO) is to develop the Charters Towers mining area in Queensland with Anhui Geology and Mining Investment Co. Ltd.; Australian Mines Limited (ASX:AUZ) announced the acquisition of Nigerian gold project; Kentor Gold Limited (ASX:KGL) successful raised A$65.2 Million to fund Andash Gold-Copper Project in Kyrgyz.

The Australian shares today opened firmer after Wall Street Friday extended gains on US companies' strong earnings. The S&P/ASX200 index rose 0.95 per cent to touch 4500 points level shortly after the opening bell. Gains were led by health sector and consumer staples sector.

The Australian shares opened slightly higher this morning despite Wall Street and European markets posted losses overnight. The local market was supported as investors were hunting for bargains following a series of significant falls in recent sessions. Yesterday the Australian market closed at its nine- month low after the global markets fell on Germany's ban on naked short selling.

Yesterday the Australia share market surged more than 4% after the US government announced the $US700 billion ($840 billion) Wall Street bailout over the weekend, and the ban on short selling locally. Short-selling targets Macquarie Group(ASX:MQG) and Babcock and Brown(ASX:BNB) bounced strongly as market participants sought to unwind short positions and bought up stock.