Shanta Gold’s declaration of commercial production at Singida was a textbook commissioning performance, according to house broker Liberum.
Turning the key on a new mine is always a nervous time, added the broker, but Singida has performed with flying colours, delivering commercial production within weeks of first gold pour on 30 March 2023.
Exploration at the site is planned for the third quarter and five-year guidance is expected in June.
Buy with a target price of 18p in the house broker’s rating currently.
Shares in Shanta rose 1.1% to 11.5p.