Shanta Gold Limited starts construction work at Singida project

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Shanta Gold Limited starts construction work at Singida project

Shanta Gold Limited (LON: SHG) has commenced construction work together with revised project financial side in central Tanzania for the Singida Gold Mining Project.

  • Based on a rate of US$1,900 /oz (approximate current gold spot price) the Reserve-based mine plan gives post-tax NPV 8 per cent of US$73 million and IRR of 59 per cent.
  • The company has reported that there was a total capital investment of US$26 million over a two year construction period, excluding pre-stripping.
  • SHG shares on 7 October 2020, at GMT 09:51 AM, were trading at GBX 18.38, up by 0.38 points or 2.08% against the previous day’s closing price.

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