logo-loader
Shanta Gold Limited

Shiny Q1 numbers for Shanta Gold as CEO eyes a debt free future

Shanta Gold Limited (LON:SHG) is on target to pull out of the ground between 80,000-84,000 ounces of gold in 2019 after their Q1 results reflected that production is up to 22,400oz.
The Tanzania-based gold explorer and miner also said the company intends to be debt free by the middle of next year.
CEO Eric Zurrin could barely wipe the smile off his face as he told Proactive London that shareholder value was now the company focus and that the gold grades they're pulling up are 'eye wateringly good'.
Underlying earnings in the quarter were US$11.4mln, that's a 15% increase on the previous three months and production costs on a sustaining basis were US$701 per oz, compared to guidance for this year of between US$740-780oz.

Quick facts: Shanta Gold Limited

Price: £0.10

Market: AIM
Market Cap: £76.37 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Shanta Gold Limited named herein, including the promotion by the Company of Shanta Gold Limited in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Mining Capital's Alastair Ford charts continued strength in gold price

Mining Capital's Alastair Ford addresses suggestions gold could be heading towards a new high of $2000/oz. ''I think that's quite an ambitious target to be setting at this point ... the next breakout number $1525/oz and thereafter the chartists will look for something like $1560/oz''. ''If...

3 days, 16 hours ago

2 min read