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Shanta Gold: Purchase of Barrick Gold's Kenya assets a 'significant diversifier'

Mining Capital's Alastair Ford gives his view on the news that Shanta Gold Ltd (LON:SHG) is to purchase 100% of the shares of Acacia Exploration (Kenya) Ltd, the local Kenya subsidiary of Barrick Gold (NYSE:GOLD)(TSE:ABX).

The main asset is the West Kenya project.

Shanta will pay US$7mln in cash for the assets, US$7.5mln in shares, and a 2% royalty will stay with Barrick.

Quick facts: Shanta Gold Limited

Price: 12.3 GBX

AIM:SHG
Market: AIM
Market Cap: £97.65 m
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Full interview: Shanta to acquire Barrick Gold’s Kenya projects

Shanta Gold (LON:SHG) is buying Acacia Exploration Ltd, the local Kenya subsidiary of Barrick Gold (NYSE:GOLD)(TSE:ABX). Shanta CEO Eric Zurrin can barely conceal his pleasure as he tells Proactive London about the 'spectacular grades' at the new project and how he plans to slash operating...

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