Shanta Gold Ltd (LON:SHG) boss Toby Bradbury told Proactive Investors that he expects production at the top end of guidance.
Bradbury in an interview said: “our production continues as per our guidance which is 82,000-87,000 ounces per year. We expect to hit the top end of that and we produce gold at a very low cost of $690-740 an ounce which is our guidance for this year. We expect to hit the favourable end of that as well''.
The company has two projects on the go in Tanzania - the first is a producing gold mine and the other is still in the development stage.
''We were very fortunate. We had seven analysts come out to [ the New Luika mine in ] Tanzania and it was great to be able to show them the work we've been doing over the last year."
“The mine is doing a lot of exciting things at the moment - we have a transformation of our mining from surface into underground and that project is going very well.''
''We're also building a new power station, in part to provide the additional power we need for the underground mine but also to replace the old power station which is coming to the end of its life - and that's all going very well, on target''.
Bradbury adds: ''We've also just completed a dam on the Luika river which gives us water security right through the year - even when the river is not flowing''.