Shanta Gold Ltd - East Africa-focused gold producer, developer and explorer - Reports production of 100,571 ounces in 2023, 2.6% ahead of the upper end of 2023 guidance of 98,000 ounces. Group adjusted operating cash costs were USD857 per ounce with an all in sustaining cost of USD1,138 per ounce, compared with AISC guidance of USD1,200-1,300 per ounce. Highlights a new five-year plan for Singida forecasting 169,000 ounce production over 2023-2027 with potential for expansion. Says adjusted earnings before interest, tax, depreciation and amortisation totalled USD21.8 million in the fourth quarter to December 31 compared to USD19.0 million in the third quarter. For 2024, forecasts production of 100,000-106,000 ounces at AISC of USD1,300-1,350 per ounce.
Current stock price: 13.10 pence
12-month change: up 11%
By Jeremy Cutler, Alliance News reporter
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Shanta Gold (SHG)