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Shanta Gold CEO encouraged by work at New Luika mine

The chief executive of Shanta Gold (LON:SHG), Toby Bradbury, talks though the progress made at the firm’s New Luika gold mine in Tanzania and explains how the company is in a stronger position following re-development work.

Today the company told investors it boosted gold production and cut costs at the site during the second quarter to the end of June 2015.

During the period, Shanta produced 14,664 ounces of gold, up from the 13,516 ounces produced in the first quarter.

Going forward, in this new pricing environment with gold looking set to test the US$1,000 mark soon, Bradbury says company plans to drive costs down still further.

Quick facts: Shanta Gold Limited

Price: 16.5 GBX

AIM:SHG
Market: AIM
Market Cap: £172.17 m
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Shanta Gold continues to extend mine life at New Luika, 'like a tree that...

Shanta Gold Limited's (LON:SHG) Eric Zurrin reminds Proactive viewers about their strategic plan to 'extend the mine life at New Luika gold mine...... like a tree that just keeps on going'. Highlights of the Luika drilling included 3.58 metres grading at 14.71 grams per tonne (g/t) of gold...

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