UPDATE 1-Miner Citigold plans third listing in Singapore

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By Yvonne Cheong

SINGAPORE, April 9 (Reuters) - Australian miner Citigold Corp (CTO.AX) plans a third stock market listing in Singapore in the next six to 12 months to give its investors there better access to its stock, its chief told Reuters on Wednesday. "We are six-percent owned by Singaporean individuals and feel we have a certain amount of acceptance here," said Mark Lynch, managing director and chief executive, in an interview at a mining conference in Singapore.

It also hopes to raise $60 million by selling debt in the next six months to fund its expansion, Lynch said.

"The method we are looking at primarily is debt," he said, adding that this was because of ongoing stock market weakness.

The fundraising is to help the company, which mines and produces gold from fields in Australia's northeast, to meet its goal of increasing production to 300,000 ounces of gold per year, with an annual revenue of $300 million, Lynch said.

He said the company prefers to list in Singapore over Hong Kong because of the exchange's "international view" while Hong Kong is considered more China-centric and "would be good for mining companies with a China story".

Citigold is worth $200 million on the stock market and its shares are listed in Australia and Dubai, where it is looking for access to Gulf investors. (Editing by Jan Dahinten)