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Shanta Gold expecting strong H2 with improved grades and further cost savings

Eric Zurrin, chief executive of Shanta Gold PLC (LON:SHG), tells Proactive Investors production costs were significantly reduced in the last three months with further savings expected over the remainder of the year.

Shanta produced 20,544 ounces in the three months to June, up from 17,663oz in the previous quarter, while operating costs dropped to US$505 per oz from US$595.

On a sustaining basis, costs were US$748 per oz, but are expected to drop to within a range of US$680-730 by the year-end.

 
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Newswire
October 18 2018

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