14 Oct 2015 07:00
14 October 2015
Shanta Gold Limited
("Shanta Gold", "Shanta" or the "Company")
Board Change
Shanta Gold Limited (AIM: SHG), the East Africa-focused gold producer, developer and explorer, announces that Patrick Maseva Shayawabaya, Executive Director and Chief Financial Officer ("CFO"), has resigned and will leave the Company on 31 October 2015 in order to pursue an opportunity in his home country, Zimbabwe. The Company is actively seeking a replacement and will update the market in due course.
Mr. Eric Zurrin will assume the CFO responsibilities on an interim basis whilst the board reviews a suitable appointment. Eric Zurrin, aged 35, holds a Bachelor of Commerce (Accounting) degree and has 12 years' experience in mining and investment banking, previously with UBS Investment Bank in London. Eric re-joins Shanta having spent much of 2013 in Tanzania as a commercial analyst advising Shanta's former Chief Executive Officer, Mike Houston. He is currently a principal of Sandown Bay Resource Capital LLP and a director of Kincora Copper Limited (TSX-V: KCC).
Toby Bradbury, Chief Executive Officer, commented:
"On behalf of the board and the management team, I would like to express our sincere gratitude to Patrick for his hard work, contribution and commitment to the Company over the last few years. Patrick leaves Shanta in a healthy financial position and was pivotal in arranging the US$40 million refinancing with Investec earlier this year. We wish him every success for the future."
Enquiries
Shanta Gold Limited | |
Toby Bradbury (CEO) | +255 (0)22 2601 829 |
Nominated Adviser and Joint Broker | |
Peel Hunt LLP | |
Matthew Armitt / Ross Allister | + 44 (0)20 7418 8900 |
Joint Broker | |
GMP Securities Europe LLP | |
Richard Greenfield/ Mitch Limb | + 44 (0)20 7647 2800 |
Financial Public Relations | |
Tavistock | |
Emily Fenton / Nuala Gallagher | +44 (0)20 7920 3150 |
About Shanta Gold
Shanta Gold is an East Africa-focused gold producer, developer and explorer. It currently has defined ore resources on the New Luika and Singida projects in Tanzania and holds exploration licences over a number of additional properties in the country. Shanta's flagship New Luika Gold Mine commenced production in 2012 and, produced 84,000 ounces in 2014. The Company is admitted to trading on London's AIM and has approximately 468 million shares in issue. For further information please visit: www.shantagold.com.
ENDS