The Investors Chronicle said today5 Dec 2018 20:49
Its market capitalisation may be small, but Shanta Gold (SHG) could be producing over 100,000 ounces of gold a year by 2020, if the company secures funding for the development of the Singida project. Today, the Tanzanian miner unveiled its project economics for the development, which promise an internal rate of return of 67 per cent, based on a life of project cash cost of $794 an ounce, just above the all-in cost base for Shanta's main asset, New Luika. Chief executive Eric Zurrin said funding for Singida will be completed "at the asset level and not through Shanta Gold shareholders". We remain buyers.