The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
For anyone interested Eric has a 30 min slot on the Shares magazine webinar on the 9th of September. Link to registration below.
https://www.sharesmagazine.co.uk/events/event/shares-investor-evening--webinar-090920
Todays interview on Proactive Investor
https://www.proactiveinvestors.co.uk/companies/news/912525/shanta-to-acquire-barrick-golds-kenya-projects-912525.html
Also todays presentation is on the Shanta Gold website.
Good Q4 results. Net debt down by 31%, should be debt free H2 and then hopefully dividends.
I notice that VAT receivables has decreased by 6mil yet we only had a refund of 2.7mil. Anyone know how this has happened. I would have thought we'd had news if we were allowed to offset it against tax.
https://www.sharesmagazine.co.uk/video/shanta-gold-shg-eric-zurrin-ceo-3
https://www.proactiveinvestors.co.uk/companies/news/903891/shanta-gold-ceo-encouraged-by-further-positive-drill-results-at-new-luika-903891.html
Encouraging interview with Eric about the good drill results today. He also mentions that August was the best month this year so looks good for Q3 results on the 17th.
Eric did mention about a dividend last year but I don't think we'll see anything until the VAT issue is resolved. Next news will be Q3 results on the 18th of October and news on the targeted exploration drilling on Mining Licences and Lupa goldfield during Q3/Q4 (See July Q2 presentation page 10).
Fingers crossed for some good results.
Thanks Graham and Retired Banker.
Eric didn't cover anything new but it was good to emphasize what we've got coming up over the next 6 to 12 months. He hinted that dividend payments were still a long way off which wasn't a surprise but there's plenty of exploration to expand the mine life. Singida will hopefully come on line next year and there are further areas of land that show good promise.
There's also still the opportunity to purchase Helio resources at a cut price which would be good as long a we can get the licences in place.
On Twitter today they announced that the new Leach tanks are now operational which will increase recoveries to 93%.
All we need now is the gold price to head north and some positive news from the TG on VAT repayments. GLA
Link to last nights presentation at the Precious metals summit.
http://www.gowebcasting.com/events/precious-metals-summit-conferences-llc/2018/09/21/shanta-gold-limited/play/stream/25906
A good interview with Eric on Proactive investor. Very positive sounds coming from the Tanzanian Government. https://www.youtube.com/watch?v=m87E-j-fx78
Agreement between Barrick and TG. https://www.nytimes.com/reuters/2017/10/19/business/19reuters-barrick-gold-tanzania.html
Mining Capital's Alastair Ford's opinion on investing in Tanzanian mining. https://www.youtube.com/watch?v=QpPkc2gIr6E
Its a shame, it's obviously land SHG wanted and it would have extended the mine life. They pulled out due to the current debt and TG situation, imho we would have come back to purchase it in a few years. If we are forced to finalize the purchase I don't see it as a major problem especially after seeing the cost saving measures put in place.