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Shanta Gold 'rapidly paying down its debt' as New Luika continues to impress

Shanta Gold Ltd's (LON:SHG) Eric Zurrin caught up with Proactive London's Andrew Scott to talk through the miner's Q3 update.

Shanta paid down nearly a quarter of its debt in the period, shrinking net debt to US$20.7mln, down 50% over the past year, while its cash balance ticked up to $5mln.

Meanwhile production at New Luika's continued to improve.

The 22,726 oz unearthed is up 14% compared to the second quarter, with an increased average head grade of 4.5 grammes per tonne.

Quick facts: Shanta Gold Limited

Price: 17.5 GBX

AIM:SHG
Market: AIM
Market Cap: £148.5 m
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