Shanta reports higher Q1 production, improved margins

Aim-listed Shanta Gold’s New Luika mine, in Tanzania, produced 20 416 oz of gold in the quarter ended March 31, improving the company’s margins and keeping it on track to meet its 2017 guidance. “Shanta had a promising start to the financial year with more ounces produced, at a greater margin than planned, ensuring the company is on track to meet its 2017 guidance of 80 000 oz to 85 000 oz at an all-in sustaining cost (AISC) of $800/oz to $850/oz,” CEO Toby Bradbury said in a statement this week.