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Last 5.50 GBp
Change Today +0.25 / 4.76%
Volume 759.6K
SHG On Other Exchanges
As of 11:30 AM 10/9/15 All times are local (Market data is delayed by at least 15 minutes).

shanta gold ltd (SHG) Snapshot

5.25 GBp
Previous Close
5.25 GBp
Day High
5.50 GBp
Day Low
5.25 GBp
52 Week High
10/24/14 - 11.63 GBp
52 Week Low
08/18/15 - 2.63 GBp
Market Cap
Average Volume 10 Days
-0.0076 GBp
Shares Outstanding
Dividend Yield
Current Stock Chart for SHANTA GOLD LTD (SHG)

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shanta gold ltd (SHG) Details

Shanta Gold Limited engages in the investment, exploration, and production of gold in Tanzania. It primarily holds a 100% interest in the New Luika Gold Mine comprising licenses covering 1,313 square kilometers located in the Lupa Goldfield district in south-western Tanzania. The company was founded in 2001 and is based in St Peter Port, the Channel Islands.

Founded in 2001

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shanta gold ltd (SHG) Key Developments

Shanta Gold Ltd. Provides New Luika Base Case Mine Plan and Reserves Update

Shanta Gold Ltd. announced its underground feasibility study, base case mine plan (the "Plan") and updated reserves statement for its New Luika Gold Mine ("NLGM"), in Southwest Tanzania. Underground Feasibility Study: An Underground Feasibility Study has been completed by independent consultants, AMC Consultants (UK) Limited ("AMC"). The study provides for the extraction of 1.57 Million tonnes ("Mt") over six years at a grade of 6.5 grams/tonne ("g/t"); the underground mine will produce 310,000 ounces ("oz") and the project Net Present Value ("NPV") at an 8% discount rate and gold price of USD 1,200 /oz is USD 72 million ("m"), with a pre-tax Internal Rate of Return ("IRR") of 56%; Underground life of mine average Cash Cost and All In Sustaining Cost ("AISC") of USD 499 /oz1 and USD 640 /oz2 respectively; and Pre-production capital cost of USD 38.4 million including contingency. Options being reviewed to finance underground mobile equipment and power plant with the balance of funding to come from internal cash flow and Investec standby facility. Base Case Mine Plan: the Plan includes ongoing surface mining, the tailings recovery project and incorporates the underground mining operation; Underground operations provide an extension of high grade ore supply to maintain an average NLGM production of 84,000 oz per annum ("pa") over the next five years with potential to further optimize the schedule; a separate tailings recovery project will produce a further 19,000 oz with a project NPV of USD 5.1 million at an 8% discount rate and a pre-tax IRR of 49%; The Plan provides for extraction from mining of 2.79 Mt for the production of 443,000 oz from January 2016 to 2022 (133,000 oz from open pit and 310,000 oz from underground); the Plan's average Cash Cost and AISC are USD 532 /oz and USD 695 /oz respectively; Upside in further optimisation, cost reduction and inclusion of substantial resources that currently still sit outside the Plan; and Post-tax NPV for the Plan from January 2016 of USD 110.4 million at an 8% discount rate and a gold price of USD 1,200 /oz.

Shanta Gold Ltd. Announces Trading Update and Elizabeth Hill Resource Upgrade

Shanta Gold Ltd. provided an update from its ongoing resource development and optimization program at the New Luika Gold Mine, in South west Tanzania. Production and costs have been maintained at budgeted levels and remain on track to meet full year guidance of 72,000-77,000 ounces (oz) at All in Sustaining Costs of $850-900/oz; NLGM Life of Mine Plan on track to be delivered before month end, and improved definition of near surface resources at Elizabeth Hill Prospect. Greater grade continuity established between wide-spaced drill holes previously drilled, and surface trenches. Total Mineral Resources at Elizabeth Hill of 128,000oz (2.3Mt at 1.7g/t). $40,000oz (46%) increase in total Resource compared to the last reported Mineral Resource 2011.

Shanta Gold Ltd. Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2015; Provides Production Guidance for the Year 2015

Shanta Gold Ltd. reported unaudited consolidated earnings results for the six months ended June 30, 2015. For the period, the company reported revenue of $31,912,000 against $58,276,000 a year ago. Operating loss was $6,635,000 against operating profit of $11,143,000 a year ago. Loss before taxation was $10,343,000 against profit before taxation of $7,660,000 a year ago. Loss for the period attributable to equity holders of the parent company was $8,299,000 against profit attributable to equity holders of the parent company of $4,105,000 a year ago. Diluted loss per share was 1.781 cents against 0.871 cents a year ago. Net cash flows from operating activities were $4,383,000 against $16,650,000 a year ago. Purchase of intangible assets was 35,000 a year ago. Purchase of property, plant and equipment was $630,000 against $307,000 a year ago. For the year 2015, the company expects June production back to budget levels and on track to meet full year guidance of 72,000 to 77,000 oz.


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