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

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