Cool updated on the mine in Tanzania where Shanta Gold is operating, listen here!

Good buying Opp here at this price IMO. sell is over done I will be topping up. 10p

You do that
a gain of 8.50p in one year now lost 3p from its high is a 37.5% retracement

from my thread........

XXX 8 Nov '16 - 09:17
Gold losing ground -$8.50
Some of the gold shares doing much worse

CEY 132.30p -7.60p (-5.43%)
PAF 18.75p -1.25 (-6.25%)
SHG 10p -0.62p (-5.88%)
CNR 55.50p -3.50 (-5.93%)
------------------
comparing
---------------------------------- 7 days --------------------------------------------------- 3 month --------------------------------
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Spangel comment on the drop:
"India precipitated the fall in gold prices last Sunday under cover of news the Trump election with local press reports that the government may be considering a complete ban in the shipping of gold into India. We presume this may have been prompted by the move by individuals to convert large denominated Rupee bills, which are being withdrawn, into gold with gold looking set to take over as India’s next black market currency.
Yellen says the Fed could raise rates relatively soon and that Trump has done nothing to change the Fed’s plan for a rate increase
The Fed may also raise rates to assist the Treasury in the issuance of bonds to fund future Trump infrastructure spending.
Trump may also lower US corporation taxes as pledged to further repatriate US dollars held in overseas accounts.
The flow of funds back into the US could strengthen the dollar further and cause further volatility in the Emerging Markets.
Emerging Markets are fragile and volatile markets at the best of times and a liquidity squeeze in S Korea and other developing nations could well precipitate further crisis.
The question for gold bugs is, how low will gold go as the US dollar strengthens before the next crisis causes the gold price to recover.
Given that currency markets have already priced much of the Trump move into the US dollar and that further strength will damage more exports then it may be that the move in the dollar and the fall in gold prices is largely done
It may also be that the Fed could print new US dollars rather than increasing its borrowings though we seem to be the only people considering this. The inflationary impact of new money printing could be the deciding factor here."

Shanta Gold expects production at the top end of guidance

http://www.proactiveinvestors.co.uk/companies/news/169900/shanta-gold-expects-production-at-the-top-end-of-guidance-169900.html

StockMarketWire.com
Shanta Gold Ltd said that, on Dec. 15, the underground development at the New Luika Gold Mine intersected first mineralization at the Bauhinia Creek deposit.

"The intersect occurred just after the nose fault, as predicted in the geological model," the company said.

CEO Toby Bradbury commented:
"I am pleased to report continued progress at the underground development at the New Luika Gold Mine. Intersecting first ore is a pleasing result and we remain on track to commence first stoping of ore in Q2 2017."

Had a top up at the bottom last week, should of had a few more.

StockMarketWire.com
Shanta Gold has booked record annual gold production for 2016 of 87,713 oz, beating guidance of 82,000-87,000 oz and from 81,873 oz in 2015.

Gold sales for 2016 were 86,331 oz, from 80,622 oz in the prior year, at an average price of $1232/oz, compared with an average spot price of $1249/oz.

Looking ahead into 2017, Shanta guided for production of 80,000-85,000 oz at AISC of $800-$850/oz.

"The transition from surface to underground operations will require processing of lower grade ores during H1 2017 as access to higher grade underground ore is established," the company said.

"This will result in production being weighted to the second half of the year," it added in a statement.

Shanta further noted that 2016 costs benefited significantly from an accelerated mining programme for the remaining lives of both the Luika and Bauhinia Creek open pits.

It said this innovative approach significantly reduced the mining costs, but was confined to the 2016 year. "It should be noted that the initial guidance for AISC in 2016 was $750-$800/oz."

The company added that the Base Case Mine Plan 2016-2020 guidance was for five-year average production of 84,000 oz with a life-of-mine average AISC of $695/oz.

Nice set of results IMO

At this prices there is buying going on. The other gold stocks have had some type of bounce from lows but SHG has move yet further down. The last update was very positive .

For that reason I have bought some @ 8.885p ( spread 8.50 v 9p )

9p ( 8.75 v 9.25p ) =

Back to the opening price as larger buyers are now on the ticker

Difficult to decide if gold is going to go higher.
An increase in interest rates in the US might make gold a little less attractive to investors. General opinion from the press seems to be that gold will go higher in the short term (during 2017) as the interest rate increases will be so small to start with as to make little difference. Also, if Trump manages to strengthen the US economy and the $, gold will get hit. Hopefully, again, not for a while.

comparing Gold operators

Silver prices well on the up

9.25p +0.25p

As the gold price finished well up and another $6 dollar higher today, the rush to buy shares started earlier, and so the MMs pushing the price higher

Lets see if they managed to get this amount 80-85,000 oz

"A significant stockpile of high grade ore was created in 2016 to tide the operation through the transition from surface to underground mining

In the meanwhile, the underground development of the deposits at both Bauhinia Creek and Luika have progressed on target. At the time of writing, more than 2.1 kilometres of underground development have been completed, excluding two 80 metre ventilation raises that have been established in Bauhinia Creek and a third at Luika that is underway. The third level of ore development is underway in Bauhinia Creek

Gold production for Q1 2017 to date is in line with expectations and our full year guidance of 80-85,000 oz"

Dragonfly Doji was the Closing Candlestick last Thursday, signalling a change on the direction of the last 50 days downtrend.

Gold price at record high lately is going to held on the change of direction

dragonfly chart

SHG chart

Looks like the seller may have gone..

Shanta Gold updates on New Luika 23/05/17

http://www.moneyam.com/action/news/showArticle?id=5553835

Not looking good here. Got out at 6p

StockMarketWire.com
Shanta Gold's revenue fell by 5.2% from $55.7 million to $52.7 million in the first half of the year.

The company said this reflected lower gold sales as a result of the availability of lower grades than the previous year.

The cost of sales amounted to $44 million, down 11.9% from the prior year, including the effect of accounting for underground development ore prior to commercial production.

EBITDA was $21.5 million, down from $33.3 million, which was a record result based on high gold production as the Bauhinia Creek open pit returned high grades in the final few months of its life in 2016.

The company made a loss before tax of $600,000, an improvement from a loss of $3 million the year before.

The effect of accounting for underground development ore prior to commercial production reduced profit before tax by $8.3 million.

Since the first half ended, the Tanzanian government has introduced a new Finance Act and a number of new legislative bills.

Since July, gold shipments have attracted higher royalty rates of 6%, up from 4% previously, and a clearing fee of 1% has been applied.

Shanta said its production forecast remains unchanged but it will continue to seek advice on the legislation and its potential impact.