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http://imarketreports.com/shanta-gold-output-rises-ahead-of-guidance.html

LONDON (Alliance News) - Shanta Gold Ltd Thursday said it is expecting to reach the top end of its full year production guidance, and said it is considering two scenarios to develop the New Luika project in Tanzania as it looks to move into underground mining operations to extend its mine life. Shanta is expecting production for 2014 to reach the upper end of its guidance of between 80,000 and 83,000 ounces of gold at an all-in sustaining cash cost between USD900 and USD950 per ounce. "Our current operations are progressing as planned with strong cash generation and we remain on target for the top end of our full year production guidance," said Chief Executive Mike Houston in a statement. The company has estimated production in 2015 and 2016 will see a slight increase to between 83,000 and 85,000 ounces of gold per year. In 2015, Shanta is expecting the all-in sustaining costs to significantly drop to between USD830 to USD880 per ounce, it said in a statement. The company is continuing to try and deliver a life of mine plan for the New Luika project as it focuses on moving into underground mining operations that can be profitable under the current market conditions. "The step to underground mining is fundamental to fully exploiting the resource at New Luika and we have worked through the process in some detail with our independent reviewer," said Houston. The company is currently considering two options to develop the project. The first scenario consists of maintaining the projects existing throughput capacity of 600,000 tonnes per annum and then decreasing production in early 2016 so it can begin underground mining alongside the open pit operations in the second half of 2016. The second scenario includes expanding the project by introducing a third mill to increase the throughput capacity to 840,000 tonnes per year. Shanta said the expansion could be implemented rather quickly but said it would rely on the gold price and market conditions improving. The company has been advised that due to the nature of the ore body "that some additional drilling would de-risk the project," and the company now intends to drill an additional 5,000 metres on the project which will be completed by April 2015, followed by the confirmation of the life of mine extension, it said. The company is currently discussing potential funding options with numerous debt financiers to fund the life of mine extension of the project, it added. Shanta shares were untraded at 9.90 pence per share on Thursday morning.

Good management, like it.

Will get this going again? T

I know, was not expecting sub 6p, but - 5p, 6p, 7p, 10p, we wont care when its over £1 lol.

Me too, topped up again last week and will do again. I think people must just be selling to make some quick gains elsewhere. They will be back and the SP will get back to where it should be. Whilst I would love an RNS full of good news every week, we can't expect this with the stage we are at. People should take the opportunity and top up.

Morning All, Lets get a bit of enthusiasm here, the asset hasn't changed, good RNS last week, things are moving forward. GL

My 15k was a buy not sell as shown.

Would people sell off the back of this RNS?

Fair play lol. I'd be a bit quieter if i'd had the result you did in LGO too. All ok with me, just waiting. Keep up the posting.

The fella can't win! Chastised when he posts and chastised if he doesn't.

Would anyone else like to see them top up?

Is my average, beat that anyone? I've pretty much written off my loss and never stay in touch with this share as it makes want to cry. Anything happening here? I have to be honest, I didn't think we'd still be here but am pleased we are!