Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Shanta Gold confident on 2014 cost guidance  Join our daily free Newsletter

MENAFN - ProactiveInvestors - UK - 20/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - ProactiveInvestors - UK) Tanzania-focused Shanta Gold (LON:SHG) said it is confident of hitting its 2014 production guidance of 80,000 ounces of the precious metal as it revealed last year's output marginally exceeded forecasts



It came in at 64,054 ounces, around 1,000 ounces ahead of projections, while production in the final four three months was 19,581 ounces, a quarter on quarter rise of 3.6%



All-in sustaining cash costs of US1,049 an ounce were also bang in line, and they could fall as low as US900 an ounce this year, according to the company's guidance, which it is confident of hitting



Shanta sold 61,887 ounces of gold at an average price of US1,409 an ounce during 2013, while sales in the final quarter were 18,800 ounces at US1,320 an ounce.



It has also forward sold 19,500 ounces at US1,331 well above of the spot price for the yellow metal



The group, which owns the New Luika Mine, is sitting on a fairly comfortable cash cushion of US22mln (up US2mln) from the end of the third quarter and spent US3.2mln on capital investment in the quarter



The current year is expected to be one of significant milestones, including the updated life-of-mine plan for New Luika, due in the second quarter, the underground mining report and the feasibility study for the Singida project



Chief executive Mike Houston said: "The recently announced resource upgrade reaffirms our belief in the ability to extend the life-of-mine at New Luika both through opencast and underground mining and highlights the potential of the wider Lupa Goldfields to support this extension.


 


ProactiveInvestors - UK




  MENA News Headlines
 Sep 1 2015 - Saudi- Short circuit caused Aramco fire 3 Canadians among deadArab News
(MENAFN - Arab News) ALKHOBAR: A short circuit involving a transformer in the basement of the residential complex of Saudi Aramco resulted in the fire on Sunday according to a preliminary probe. The ...

 Sep 1 2015 - Saudi- Why top women won't contest civic electionsArab News
(MENAFN - Arab News) JEDDAH: A number of prominent Saudi women have cited several reasons for not running as candidates in the upcoming municipal elections. Some of them are an alleged lack of ...

 Sep 1 2015 - Car Bomb Hits Libya's TripoliQatar News Agency
(MENAFN - Qatar News Agency) A car bomb exploded in the Thahra area of central Libyan capital Tripoli on Monday.One person was injured in the blast and a number of cars parked nearby were damaged. ...

 Sep 1 2015 - The Syrian conundrumArab News
(MENAFN - Arab News) This is with reference to the article 'Ousting Assad must to defeat Daesh' (Aug. 31) by Hassan Barari. Saudi Arabia has been calling for the removal of Bashar Assad since the ...

 Sep 1 2015 - Israeli Naval Forces Fire on Gaza FishermenQatar News Agency
(MENAFN - Qatar News Agency) Israeli naval forces opened fire on Palestinian fishing boat off the coast of Gaza City on Tuesday morning. The fishermen came under fire as they were sailing off the ...

 Sep 1 2015 - Saudi- Power politicsArab News
(MENAFN - Arab News) I read with interest the article 'Justice done to death' (Aug. 31) by Neil Berry. I have started to believe that laws are meant only to rein in the masses worldwide. People like ...

 Sep 1 2015 - Qatar- QTA Awarded Best Arab Government Tourism AuthorityQatar News Agency
(MENAFN - Qatar News Agency) Qatar Tourism Authority (QTA) Monday announced receiving the award of "Best Arab tourist governmental body" for 2015, and granted by the Arab Center for Media tourism, ...

 Sep 1 2015 - Tortured alive or poisoned to death: The suffering of stray dogs in EgyptDaily News Egypt
(MENAFN - Daily News Egypt) They were born believing the streets are their home. No matter how unsafe home is, they don't have anywhere else to go to, it's where they belong. Even if that means ...

 Sep 1 2015 - Egypt- The witches and wizards of the Patient Support Team: A new approach for charity eventsDaily News Egypt
(MENAFN - Daily News Egypt) If you are a Harry Potter fan living in Egypt, you will almost certainly have heard about the Harry Potter Experience organised by the Patient Support Team (PST). Last ...

 Sep 1 2015 - The industrialisation of reconciliation: Iran, Saudi Arabia and ISDaily News Egypt
(MENAFN - Daily News Egypt) came across a curious news item the other day on Reuters about an industrial development project in Saudi Arabia, and it rang a few bells. The plan is to build a "new ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help