Shanta Gold chief executive steps down in management reshuffle
Eric Zurrin, currently chief financial officer, will take over as CEO
Company
LON:SHG
Shanta Gold Ltd is an East Africa-focused gold producer, developer, and explorer. The company has an established operational track record, with defined ore resources on the New Luika and Singida projects in Tanzania, with reserves of 625 koz grading 2.91 g/t, and exploration licences covering ~800 km 2 in the country. Alongside New Luika and Singida, Shanta also owns the high-grade West Kenya Project in Kenya and licences with resources of 1.7 million ounces.
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Eric Zurrin, currently chief financial officer, will take over as CEO
Around 3pm, the UK benchmark index was ahead almost 65 points at 7,476, just holding off the day’s peak of 7,484.53 hit after the Bank of England left UK rate unchanged
It was another summerish week for the mining sector.
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A glance at some of the stories on the Proactive newswire today
Shanta expects that its next gold shipment will see royalty rates increase to 6% from 4%
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The blue chip index closed up 40.69 at 7,430 on the day
Tanzania-focused mining companies are currently reviewing new laws passed in Tanzania
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Tanzania is introducing the new fee and clearing houses as part of its efforts to crack down on tax evasion following the recent Acacia scandal
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A glance at some of the stories on the Proactive newswire today
A look at today's biggest risers and fallers in London
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A glance at some of the mining-focused stories on the Proactive newswire this week
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A glance at some of the stories on the Proactive newswire today
Today's risers and fallers including Monitise; Kalibrate and Byotrol
Shanta has boosted revenues from increased production at New Luika
FTSE 100 closed down 11.88, or 0.15%, to 7,499 on Tuesday
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The underground ore is being sourced from a long-hole open stope between the 900 - 880 metre levels
Despite events, the FTSE 100 remained relatively strong throughout the day but ended lower
The term loan runs for four years at variable interest of 7.25% per annum
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A glance at the stories on the Proactive newswire today ..
Toby Bradbury, chief executive, said: "This is our second equipment financing with Sandvik over the last 15 months."
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Shares in InnovaDerma and Porta Communications have advanced while shares in Audioboom and Nyota Minerals have fallen
At just shy of 84,000 oz, most of the resource is also in the higher certainty indicated category.
The FTSE 100 closed 15.52 down at 7,234 with Sainsbury's and mining shares under pressure
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A look at the week’s highlighted news for the junior miners
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A glance at some of the stories on the Proactive newswire today
Underground mining at New Luika also got underway with 15,171 tonnes of ore processed
A look at the week’s highlighted news for the junior miners
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Shanta said it remains on track to achieve its full year production guidance as it unveiled its revised mine plan
FTSE 100 was three points higher at 7,238, Next rises strongly.
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A look at the week’s highlighted news for the junior miners
Toby Bradbury, Shanta’s chief executive, said: "The excellent exploration results from Nkuluwisi once again showcases the geological potential of the Lupa Goldfields.”
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Exploration in satellite areas and at new deposits such as Singida in Tanzania can substantially extend the production profile
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Output from the New Luika mine in 2016 totalled 87,713oz, which was a record for the Tanzania-based junior
The intersect occurred just after the nose fault, as predicted in the geological model,
The company has two projects on the go in Tanzania - the first is a producing gold mine and the other is still in the development stage.
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The streaming agreement relates only to silver by-product production from the New Luika mine
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New Luika comprises nine deposits in the south of Tanzania
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Underground exploration has increased indicated resources at the Ilunga deposit by 409% to 205,000 oz
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A round up of the week's mining headlines from Proactive.
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A weekly round up of the mining news from the world of Proactive.
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