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Shanta Gold quarterly earnings fall; affirms annual output guidance
StockMarketWire.com
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East Africa focused miner Shanta Gold reported lower first-quarter earnings and production, but stuck to its annual output guidance.
Earnings before interest, tax, depreciation and amortisation for the three months through March fell to $7.6 million, down from $15.6 million in the fourth quarter of 2020.
Gold output for the three months through March fell to 14,641 ounces, down from 20,622, while silver production fell to 17,360 ounces, from 26,544 ounces.
Shanta realized a higher average gold price of $1,801 an ounce, up from $1,376 in the 2020 fourth quarter.
Annual guidance of about 80,000 ounces was reiterated for 2021.
At 9:24am: (LON:SHG) Shanta Gold Ltd share price was 0p at 15.75p
Story provided by StockMarketWire.com
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