Aim-listed Shanta Gold’s New Luika mine, in Tanzania,
produced 23 896 oz of gold in the quarter ended June 30, compared with the 24
341 oz produced in the first quarter of the year.
The company sold 26 134 oz of gold at an average price of $1
246/oz in the quarter under review, compared with the average spot price of $1
222/oz.
Cash costs for the second quarter were $429/oz, compared
with $445/oz in the first quarter of the year, while all-in sustaining costs
(AISC) reached $664/oz in the June quarter, compared with $600/oz in the
previous quarter.
Underground project development remains on track and within
budget for first production of underground ore in the second quarter of 2017
and work has started on a second tailings storage facility.
"With the transition to underground mining
at the New Luika gold mine, t
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