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is an emerging gold producer, engaged in both exploration and mining projects in highly prospective, under-explored areas of Tanzania ” Shanta Gold has an experienced board of directors and management team with strong relationships within Tanzania. Shanta Gold focuses on developing smaller, higher-grade mining projects with a low cost business model.

Website:
http://www.shantagold.com
Phone:
+44 (0)1481 726 300
Address:
Suite A, St Peter Port House, Saumarez Street, St Peter Port, Guernsey GY1 3PG.
Super Sector:
General Mining - Gold
Sector:
Mining
Industry:
Gold Mining
EPIC / Symbols:
LON:SHG
chart-size
*subject to change and depends on individual circumstances.

Shanta Gold RNS Press Releases

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Shanta Gold Articles, News, and Media Files

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Shanta Gold Related Media

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Broker press

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  • 30/07/14

    30.07.14 :-0.12, (13.13) finnCap reiterates its "buy" rating but cut its price target to 17.25p from 18p.

  • 25/03/14

    25.03.14 :-0.12, (14.63) finnCap initiates coverage with a "buy" rating and 18p target price.

  • 18/10/12
    +0.75 +19.25

    Westhouse reiterates its "strong buy" rating but cut its price target to 46p from 69p.

  • 18/10/12
    +0.63 +18.38

    Press: Source - Independent The miner unveiled a placing to raise $30m, saying the cash was needed to meet short term financing requirements.... read more

  • 18/10/12
    +0.63 +18.38

    Press: Source - Independent The miner unveiled a placing to raise $30m, saying the cash was needed to meet short term financing requirements.... read more

Director dealings

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Date Director Trans Amount Type Price(p) Value (£) Holding %
18/09/14 A.R.C. Durrant BUY 100,000 ORD 11.88 11,880 1,351,212 0.29
11/09/14 L.A. Leslie BUY 150,000 CNV 93.00 139,500 3,050,000 0.65
03/09/14 R.A. Fryer BUY 120,000 ORD 12.75 15,300 240,000 0.05
01/09/14 M. Houston BUY 100,000 ORD 12.38 12,380 1,317,189 0.28
21/05/14 R.A. Fryer BUY 120,000 ORD 15.00 18,000 120,000 0.03

BASIC RESULTS INFORMATION

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Date Type Turnover Profit EPS (p) Dividend (p) Currency
30/06/14 Interim 58.28 7.66 0.88 0.00 USD
31/12/13 Full year 65.99 -4.37 0.16 0.00 USD
30/06/13 Interim 14.67 -1.43 -0.31 0.00 USD
31/12/12 Full year 0.00 -14.75 -4.42 0.00 USD
30/06/12 Interim 0.00 -7.00 -2.38 0.00 USD

Presentations & Company Media

Company Statement

Shanta Gold is engaged in gold exploration, development and mining in one of Africa's most significant gold-producing countries, Tanzania. Established in 2001, Shanta Gold was admitted to the London Stock Exchange's Alternative Investment Market (AIM) in July 2005 and is contained in the FTSE sub-sector of Gold Mining.

 

Strategy

Shanta Gold’s strategy is to become a leading East African gold exploration and production company, carving out a distinctive niche in the sector. To meet that objective, Shanta Gold focuses on developing smaller sized gold mining projects which exploit smaller but higher grade gold deposits. Typically, such projects, in an East African context, take c 3 years to evaluate and explore and 1 to 2 years to develop using a relatively simple, lower cost approach to open pit mining as well as to plant construction and operation. Extensive use of contractors for all phases of project development and operation, overseen by experienced Shanta Gold personnel is a feature of the approach. This business model is designed to give higher and faster returns on investment.

 

Tanzania is the location of all of Shanta Gold’s operations to date although development in other East African countries in the future is an important element of the company’s strategy. Tanzania has attractive characteristics in terms of both the business climate and gold mining tradition. Compared to many other parts of Africa, nonetheless, Tanzania’s considerable gold resources are under-explored and under-developed.

 

Shanta Gold’s flagship project, New Luika Gold Mine, in the prolific Lupa goldfields in south western Tanzania has followed the principles of Shanta Gold’s development strategy. It now serves as a template for further projects – in Lupa and elsewhere in Tanzania and East Africa. The higher and faster returns on investment generate strong cash flows and this will enable Shanta Gold to accelerate its growth and development.

Current Operations

Shanta Gold’s portfolio of properties includes prospecting licences which cover a total surface of over 1,300 km2.

 

Mining licences are held at both New Luika and Singida and mining production commenced at New Luika during Q3 2012.

 

Chunya

Key facts

Location - Chunya Administrative District in the Lupa goldfields, Mbeya region, south west Tanzania, the second largest gold producing region in Tanzania

Extent - Five prospecting licences covering approx 199 km²(as of 1 January 2012)

Shanta Gold prospecting and mining licences - Wholly owned by Shanta Mining Corporation Limited (SMCL)

Project status - Gold production commenced August 2012 with the first successful gold pour achieved at the end of that month

 

Project potential and prospects

In July 2012, the JORC compliant updated Resource Assessment, compiled by independent mining consultants Geologix MRC (Pty) was released. This showed a significant increase of 52% in total in-situ resource to 1.48 million ounces (1.0 g/t cut-off) based on exploration and infill drillings at five of the nine known gold deposits at New Luika.

 

Over the eighteen months to August 2012, the mining and process plant was constructed as a carbon-in-pulp plant using 2 ball mills, giving a processing capability of 75 tonnes per hour. Extra capacity could be added in future.

 

The existing Mine Plan which was drawn up in 2011 estimates production of c 450,000 oz over a Life of Mine of 11 years. This Plan is currently being revised in light of the Resource Assessment increase announced in July 2012 and an increased Life of Mine of 20 years.

 

Singida

Key facts

Location - Singida Administrative District, Singida Region, central Tanzania

Extent - Eight prospecting licences covering approx 240 km². Three mining licences covering 30km²

Ownership - Some of the prospecting licences and one of the mining licences are wholly owned by Shanta Mining Corporation Ltd (SMCL). There is a minority interest of up to 10% in two of the mining licences and some of the prospecting licences which is held by GL Josue and JB Joel Limited. Depending on the option chosen, the minority holder will have up to a 10% earn-in interest or a smaller royalty. Therefore, SMCL has at least 90% ownership of the Singida project.

Project status - Advanced

 

Project potential and prospects

In August 2011, Shanta Gold released a feasibility study which indicated a production of c450,000 ounces over a 10 year Life of Mine. Capital cost was estimated at US $39 million for construction and pre-strip activities with a cash operating cost of US $412 per oz

 

Songea

Key facts

Location - Mbinga and Songea Administrative Districts in the Ruvuma Region of southern Tanzania

Extent - Eighteen prospecting licences covering approximately 450km² (as of 1 January 2012)

Ownership - Wholly owned by Shanta Mining Corporation Limited (SMCL)

Project status - Early

 

Project potential and prospects

Extensive airborne magnetic and radiometric surveys commissioned in 2008 yielded valuable structural and geological information. The resultant imagery indicated distinct uranium anomalism, the extents of which were confirmed by scintillometry surveys completed during 2009.

 

The company commissioned an independent consultant to conduct an evaluation of uranium potential within Shanta’s portfolio of properties.

 

For more information on the projects please click here

Management

Board of Directors

 

Anthony Durrant - Non-Executive Chairman

Mr. Durrant has had a long and distinguished career in the global natural resources sector, having formerly been the Global Head of Metals & Mining at UBS Investment Bank.  He is currently Chairman of the Investment Advisory Committee of New York based Arias Resource Capital Management, which manages private equity funds investing in Latin American mining.  Mr. Durrant brings significant experience in capital markets and natural resources.  Mr. Durrant has longstanding links to East Africa.

 

Michael Houston - Chief Executive Officer

Mr Houston has over 35 years mining experience, primarily within the Anglo American Group in Zimbabwe where he was responsible for managing several small to medium sized mining companies. After Anglo American, he became Chief Operating Officer of Zimplats before being promoted to Chief Executive and latterly as Chairman. During his tenure, Zimplats’ platinum operation was transformed from a brownfield project to a fully integrated and highly successful mining company. Mr Houston remains a non-Executive director of Zimplats.

 

Ketan Patel - Non-Executive Director

Mr Patel was a founder of Shanta Gold in 2001 and is a member of the Audit, and Remuneration and Nominations committees of the Board. He has worked extensively in trading organisations in the UK and since 1986 has traded agrocommodities internationally. Mr Patel has extensive commercial interests in Tanzania and is a senior director of Export Holdings (Pty) Ltd and Managing Director of the Sea Cliff and White Sands Hotel in Dar Es Salaam.


Paul David Heber - Non-Executive Director

Mr Heber was formerly an investment manager and stockbroker with over 25 years experience in global equity markets. He is a member of the Health and Safety, and Remuneration and Nominations committees of the Board. Paul managed over £120m for an international but predominantly Southern African clientele at bespoke boutique Savoy, SG Hambro's, Nat West and W.I.Carr, registered in both London and Johannesburg.Alongside his duties at Shanta, Paul is also a non-executive director of AIM quoted Cambria Africa PLC and Ortac Resources PLC.


Nicholas Davis - Non-Executive Director

Mr Davis is a corporate lawyer at Memery Crystal LLP and has over 12 years of experience of corporate finance and M&A advice – with particular experience in African resource companies. He advised Shanta Gold on its admission to AIM in 2005 and has continued to do so on an on-going basis since that date. Mr Davis was appointed to the Board in August 2012 and has become a member of the Health and Safety, and Remuneration and Nominations committees.

 

Luke Leslie - Non-Executive Director

Mr Leslie is the Head of Origo Partners Metals & Mining Private Equity.  He is a member of the Audit committee of the Board. Mr Leslie has 10 years of transaction experience in Metals and Mining, including time with the Metals and Mining team at UBS Investment Bank, and with the Natural Resources team at Accenture.  In addition to the Kincora Copper (KCC:TSX) Board of Directors, he is a member of the Board of Directors of Moly World, China Commodities Absolute Return Fund, MSE Liquidity Fund and Resource Investment Capital.

 

Robin Fryer - Non-Executive Director

Mr Fryer has had a long and distinguished career with Deloitte where he was the lead partner of the Deloitte Mining Industry. He is also chair of the Company’s audit committee.


Senior management

 

Patrick Shayawabaya - Finance Director

Patrick is a Chartered Accountant and has over 17 years’ experience in financial management at senior and executive levels including as Chief Financial Officer of ASX listed Zimplats Holdings Limited for the past 11 years. Previously he served as the Financial Director of a multinational sugar growing and processing company in Zimbabwe and holds BAcc from University of Zimbabwe.


Zane Swanepoel - General Manager of New Luika

Mr Swanepoel was appointed General Manager of New Luika in 2013 and has 32 years in mining including 8 years in Tanzania. He was previously COO of Tanzanite One.

Major Shareholders

As at 30 June 2013 there were 461,827,417 ordinary shares in issue. The percentage of shares deemed to be non-public is 15.75%.

 

Major shareholders are those with shareholdings of 3% or more. As at 30 June these were disclosed to be:

 

 

Information taken from Company website 06.11.2013

  • Additional Information
    Market
    AIM
    EPIC
    SHG
    Share Price
    11.5p
    Change
    0
    Volume
    0
    Dividend
    0
    EPS
    0.16
    Shares
    464.39 m
    Offer
    11.75
    Bid
    11.25
    Avg. Vol
    568,094
    Yield
    0.00
    P/E
    71.88
    Mkt Cap
    £53.40 m
  • Latest Stocktube
    21/01/2014

    Shanta Gold sees costs coming down further after record output

    View full size
  • Contact Information

    Dar es Salaam office

    Plot 950, Chole Road

    Masaki

    P.O Box 79408

    Dar es Salaam

    Tel: +255 (0) 22 2601 829

    Tel: +255 (0) 22 2601 831 / 32

    Fax: +255 (0) 22 2112 341

     

    Registered office

    Suite A, St Peter Port House

    Sausmarez Street

    St Peter Port

    Guernsey GY1 3PG

    Tel: +44 (0) 1481 726 300

    Fax: +44 (0) 1481 729 200

     

    Corporate Information

    Secretary and Registered Office:

    Provident Trustees (Guernsey) Limited

    PO Box 240, Suite A

    St Peter Port House

    Sausmarez Street

    St Peter Port

    Guernsey GY1 3PG

    Tel: 01481 726300

    Contact: Anna Rudd

     

    Nominated Adviser and Broker:

    Liberum Capital Limited

    Ropemaker Place, Level 12

    25 Ropemaker Street

    London, EC2Y 9LY

    Tel: 0203 100 2000

    Contact: Michael Rawlinson / Christopher Kololian

     

    Auditors:

    BDO Novus Limited

    Place du Pré

    Rue du Pré

    St Peter Port

    Guernsey

    GY1 3LL

     

    Competent Persons:

    GeoLogix Mineral Resource Consultants (Pty) Ltd

    PO Box 20,

    Potchefstroom,

    2520,

    South Africa

     

    Solicitors:

    Memery Crystal

    44 Southampton Buildings

    London

    WC2A 1AP

     

    Carey Olsen

    8-10 Throgmorton Avenue

    London

    EC2N 2DL

     

    Principal Bankers:

    UBS

    Place Pury 5

    2000 Neuchâtel

    Switzerland

     

    Financial Public Relations:

    FTI Consulting

    Holborn Gate

    26 Southampton Buildings

    London WC2A 1PB

    Tel: 0207 269 7100

    Contact: Billy Clegg / Oliver Winters

     

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