Shanta Gold Ltd. has reported steady production in its latest quarter as its new mine in Tanzania, Singida, exceeded production expectations.
The total production in the three months to the end of September 2023 was 27,935 ounces, with New Luika output at 18,271 oz and Singida at 9,664 oz, or 15% above forecasts.
“Our performance over the third quarter demonstrates the stable and reliable production volumes we have worked hard to achieve, with group gold production across our two operating mines of 27,935 ounces in line with expectations and materially increasing our confidence in meeting our stated guidance of up to 98,000 ounces, which we will review as we get closer to the end of the year,” Eric Zurrin, chief executive, said.
In Kenya, Shanta Gold Ltd said they continued infill drilling totalling 8,387 meters, while approximately 10,000 meters is planned for Q4.
