Shanta Gold Limited $5.25m silver streaming advanced payment received (4014P)
November 17 2016 - 1:01AM
UK Regulatory
TIDMSHG
RNS Number : 4014P
Shanta Gold Limited
17 November 2016
17 November 2016
Shanta Gold Limited
("Shanta Gold", "Shanta" or the "Company")
US$5.25 million silver streaming advanced payment received
Shanta Gold (AIM: SHG), the East Africa-focused gold producer,
developer and explorer, announces it has received the advanced
payment of US$5.25 million as part of its silver streaming
agreement ("SSA"), as announced 6 May 2016.
As previously stated the Company will also receive an ongoing
payment of 10 per cent. of the value of silver sold at the
prevailing silver price at the time of deliveries.
By way of reminder, the SSA relates solely to silver by-product
production from the New Luika Gold Mine with minimum silver
delivery obligations totalling 608,970 oz Ag over a 6.75 year
period.
The Company produced 121,682 ounces of silver in 2015 resulting
in approximately 2 per cent. of annual revenue.
Enquiries:
Shanta Gold Limited
Toby Bradbury (CEO) +255 (0)22 2601
Mark Rosslee (CFO) 829
Nominated Adviser and Broker
Peel Hunt LLP
Matthew Armitt / Ross Allister
/ Chris Burrows +44 (0)20 7418 8900
Financial Public Relations
Tavistock
Jos Simson / Emily Fenton
/ Barney Hayward +44 (0)20 7920 3150
About Shanta Gold
Shanta Gold is an East Africa-focused gold producer, developer
and explorer. It currently has defined ore resources on the New
Luika and Singida projects in Tanzania and holds exploration
licences over a number of additional properties in the country.
Shanta's flagship New Luika Gold Mine commenced production in 2012
and produced 81,873 ounces in 2015. The Company is admitted to
trading on London's AIM and has approximately 583 million shares in
issue.
For further information please visit: www.shantagold.com.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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