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Shanta Gold 'rapidly paying down its debt' as New Luika continues to impress

Shanta Gold Ltd's (LON:SHG) Eric Zurrin caught up with Proactive London's Andrew Scott to talk through the miner's Q3 update.

Shanta paid down nearly a quarter of its debt in the period, shrinking net debt to US$20.7mln, down 50% over the past year, while its cash balance ticked up to $5mln.

Meanwhile production at New Luika's continued to improve.

The 22,726 oz unearthed is up 14% compared to the second quarter, with an increased average head grade of 4.5 grammes per tonne.

Quick facts: Shanta Gold Limited

Price: 9.36 GBX

Market: AIM
Market Cap: £74.31 m

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Shanta Gold's Eric Zurrin reports steady production and operations at its...

Just back from a trip to Africa, Shanta Gold PLC's (LON:SHG) Eric Zurrin tells Proactive London's Andrew Scott production at its operations are as expected and operations are steady. ''Nothing's changed  ... governments are supportive both in Kenya and Tanzania''. ''Despite what's...

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