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

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.