Eric Zurrin, chief executive of Shanta Gold (LON:SHG), says the recent quarter was defined by the renewed production estimate, the extension of the mine life at New Luika and the long-awaited $4 million VAT refund.
The cash position for the East Africa-focused gold producer, developer and explorer is "very liquid" with $24 million in the bank and another another $27 million VAT receivables being held in Tanzania. Zurrin is in country next week and says his discussions with the Tanzanian government will be "VAT. VAT. VAT."
He adds there is more value in the company. We've never been stronger. We don't have any debts, we're unhedged, cash in the bank and we have no changes to our dividend commitment or our growth plans across all three assets, so the future is bright."
The company has released its new five year pan which Zurrin describes as a "cash flow positive diversified revenue stream with a lot of growth."