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Shanta Gold produces nearly 20,000 ounces of gold from New Luika during the third quarter

Published: 08:01 19 Oct 2020 BST

Shanta Gold Limited -

Shanta Gold Ltd (LON:SHG) said it produced 19,973 ounces of gold from its New Luika mine in Tanzania during the third quarter of 2020.

That, in turn, generated underlying earnings (EBITDA) of US$22.5mln, with all-in sustaining costs (AISC) at US$883 per ounce, the group added.

The company closed out the period with net debt of US$5.1mln, following a US$7.8mln cash payment related to the acquisition of the new West Kenya project.

Shanta is also on track to be unhedged by January 2021.

Shanta Gold CEO says "life is good at Shanta" ahead of planned handover

Shanta Gold Limited (AIM:SHG, OTC:SAAGF) chief executive Eric Zurrin speaks to Thomas Warner from Proactive about how the East Africa-focused gold producer, developer and explorer has been performing so far this year. He says that "life is good at Shanta" following a quarter in which...

on 10/8/23