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Shanta Gold Ltd - Guernsey-based east Africa-focused gold producer, developer and explorer - Announces that Singida gold project in Tanzania remains on-track for first production in early 2023, with overall construction activity at the project being nearly 70% complete.
The Metso-manufactured crushing circuit has been installed with cold commissioning completed, while the NCP-manufactured grinding circuit installation is ongoing, with cold commissioning planned in December.
‘We are delighted with the great progress being made at Singida, with construction on schedule for first production in Q1 2023. The completion of this mine will transform Shanta Gold into a plus-100,000 ounces per annum producer with a diversified resource base, de-risking the balance sheet and providing the business with further financial flexibility,’ says Chief Executive Officer Eric Zurrin.
Current stock price: 9.40 pence, down 6.0% on Wednesday
12-month change: down 30%
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