Shanta Gold PLC's (LON:SHG) Eric Zurrin tells Proactive London 'all of the ingredients are coming together' with quarterly production rising once again.
The last results reveal the miner produced 20,622 ounces of gold from its New Luika mine in Tanzania during the fourth quarter of 2020, up from the 19,973 produced in the third quarter.
Zurrin takes time to highlight the importance of the rising gold price, after announcing they are now 'unhedged..... much like when you walk into your job on January 1st your boss gives you a 23% payrise'.
Cash costs per ounce produced were US$559. At the end of the period, the company had cash and available liquidity of US$53.5mln and net cash of US$37.3mln following a recent placing.