Shanta Gold’s West Kenya project is an “outstanding, undeveloped gold resource” that continues to be undervalued by the share price, reckons house broker Liberum.
In a statement today, Shanta added 344,000 oz to the resource at West Kenya's Kakamega camp (Isulu & Bushiangala), paring the grade by 2% to 11.45g/t Au.
Conversion losses were offset by additional ounces in inferred resources with the total up by 168,000 oz to 1.3Moz, at 10.6 g/t gold.
Additional ounces from Ramula, another West Kenya prospect, are to be added in February with the company targeting 700,000 oz of conversion (indicated/inferred) at West Kenya from 2022’s work.
The broker’s target price is 17p against 11.9p, up 3.3% today.