Shanta Gold confident will hit full year guidance as it takes out a new loan to help accelerate growth
Shanta has a long track record of gold production in Tanzania and significant exploration upside in Kenya
Company
Shanta Gold Ltd
LON:SHG
Shanta Gold Ltd is an East Africa-focused gold producer, developer, and explorer. The company has an established operational track record, with defined ore resources on the New Luika and Singida projects in Tanzania, with reserves of 625 koz grading 2.91 g/t, and exploration licences covering ~800 km 2 in the country. Alongside New Luika and Singida, Shanta also owns the high-grade West Kenya Project in Kenya and licences with resources of 1.7 million ounces.
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Shanta Gold reports further exceptionally high gold grades from drilling at its West Kenya project
One drill hole at the Bushiangala deposit intercepted 1.5m at 1.54g/t gold, including 13.8m at 46.69g/t and 0.5m at 1,015.30g/t
Shanta Gold confident production will recover in 2022
"Shanta [is] on a clear path to becoming a +100,000oz producer by early 2023”
Shanta’s solid first quarter shows it on track to be 100,000oz per year gold producer by this time next year
Shanta has a well-established track record of production at New Luika
Shanta Gold releases inaugural sustainability report
The gold producer will focus on setting clear targets this year as part of mandatory TCFD reporting for AIM-listed companies
Shanta Gold reveals 31% increase in total resources for its West Kenya project
Our geologists [are] confident that up to an additional 700,000oz of inferred resources can be converted to indicated in 2022,” said chief executive Eric Zurrin
Shanta Gold 'delighted' with West Kenya drill results
"The region is a major new gold district and an area of massive future growth for the company.”
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Shanta Gold reports 'oustanding' results from further drilling on Isulu and Bushiangala deposits
Ongoing drilling at the Isulu and Bushiangala deposits is aimed at upgrading ounces from the inferred estimate of 1.18mln ounces stated in 2017 into the more certain indicated resource category
Shanta Gold says construction at Singida project on schedule
Singida will transform Shanta from a single asset gold producer to a +100,000 oz per year diversified gold miner
Shanta replaces mined gold with new reserves and resources in Tanzania
Shanta has a well-established track record of gold production in Tanzania
Shanta Gold forecasts 23% higher production at least in current year
"Looking ahead to 2022, we've announced increased production guidance of 68,000 - 76,000 oz"
Miners take a hit as broker dishes out downgrades
Anglo American has been downgraded to 'hold', while Rio Tinto and Antofagasta are now a 'sell'.
Shanta Gold predicted to triple in price despite today's reduced production guidance
Market confidence will be hurt by the cut in production guidance but the company's Nomad noted that prior to this year the company had enjoyed a solid track record.
Shanta reduces gold production guidance for 2021, following the supply of unreliable emulsion
Shanta remains supported by cash on the balance sheet and chunky operational cashflow from New Luika
Shanta Gold confident its West Kenya project can hold 5mln ounces
The gold mining company believes the project help it achieve another milestone
Shanta Gold reports further high-grade results from its West Kenya project
"This is the most consistently high-grade drilling programme we've ever conducted at any asset in Shanta's history,” said chief executive Eric Zurrin.
Shanta Gold reports high grades from drilling outside existing reserves at New Luika mine
The New Luika mine, in South Western Tanzania, achieved its first commercial production in 2012
Shanta remains on track to add second revenue stream in 2023 with gold production from Singida
Shanta already has a well-established gold mine at New Luika
Shanta Gold kept as 'buy' as grades tipped to improve
The East African-focused gold producer today reported flat third quarter production