SHANTA GOLD LIMITED Shanta Gold
Singida construction update
31 August 2022
COM.SHANTAGOLD.WWW
Shanta Gold Snapshot
A high quality and expanding East-Africa portfolio
Summary Capitalisation
Share Price (23-Aug-22) | 9.8p |
Market Capitalisation | US$122 m |
Debt 1 | US$21 m |
Dividend yield | 2.0% |
Top Shareholders 2
Odey | 13.5% |
Directors | 6.5% |
Sustainable Capital | 8.0% |
River & Mercantile | 6.2% |
Canaccord | 5.2% |
AMG Funds | 4.2% |
Sub-total | 43.6% |
- Completed US$20 million with Stanbic Bank Tanzania in July 2022. Cash and available liquidity reported as at June 30th was US$14.5 million
- As of 30 June 2022 (>3% interest)
2
2
Singida Gold Project - Overview | 3 |
A complementary growth project with low capex requirements and attractive returns
OVERVIEW
▪ | Open pit gold project covering located in prospective |
greenstone belt within the Ikungi District in the Singida | |
Region of Central Tanzania | |
▪ | In Q1 2023, will become Shanta's second producing mine and |
PROJECT LOCATION
SINGIDA PROJECT
a key contributor to the next stage of the company's growth |
▪ In May 2020, announced JORC compliant gold reserve |
totaling 243 koz at 3.0 g/t |
- 91% of contained gold within reserves are less than 120 metres from surface, highlighting the potential for reserve expansion at depth
TANZANIA
Dar es Salaam
COM.SHANTAGOLD.WWW
JORC Reserves and Resources as at 26 May 2020 1
Ore | Grade | Contained | |
Probable Reserveswell | (Mt) | (g/t Au) | (koz Au) |
2.51 | 3.00 | 243 | |
Measured | 1.63 | 3.39 | 179 |
Indicated | 4.02 | 2.36 | 306 |
Measured & | 5.65 | 2.66 | 484 |
Indicated | |||
Inferred Resources | 6.15 | 2.12 | 418 |
Total Resources | 11.80 | 2.38 | 904 |
PROJECT DEVELOPMENT TIMELINE
Current | ||||||||||||||||||||||
Q4 | Q1 | |||||||||||||||||||||
2020 | 2023 | |||||||||||||||||||||
Plant | ||||||||||||||||||||||
Updated Mine | Procurement, | TSF | First gold | |||||||||||||||||||
Plan and Project | engineering & | civil works & | construction | production | ||||||||||||||||||
Economics | design | pre-stripping | ||||||||||||||||||||
Construction | Mine | Site deliveries | Power supply | |||||||||||||||||||
development | ||||||||||||||||||||||
Commences | & early works | installation |
1. Total Resources are inclusive of reserves.
COM.SHANTAGOLD.WWW
Shanta 5-year Consolidated Mine Plan
+100,000 oz pa production starting in 2023
Group production (koz)
140 | NLGM Singida | |
120 | ||
120 | 103 | 109 |
101 |
100 | 26 | 34 | 43 | ||
68-76 | 38 | ||||
80 | |||||
60 | |||||
40 | 77 | 75 | 77 | 65 | |
20 | |||||
0 | |||||
2022 | 2023 | 2024 | 2025 | 2026 | |
- Reserves based mine plan for New Luika Gold Mine and Singida
- 2022 is based on annual production guidance announced in January 2022 and reiterated in July 2022
- The forecast period 2023-2026 is in line with the 5-year mine plan announced on 19 July 2021, except for Singida production in 2023 which is pro-rated 9/12 and NLGM 2026 production which is increased to reflect the addition of reserves from Porcupine South mining licence received in 2022
4
4
COM.SHANTAGOLD.WWW
Singida status recap | 5 |
Since the construction of Shanta's New Luika Gold Mine in 2013, Singida Gold Mine is the newest large-scale gold mine to have been built in Tanzania
Outlook
- Construction activity approximately 70% complete
- Key deliverables through to the end of 2022:
- TSF embankment completion and HDPE liner
- Installation of mill
- Power installation
- Gold room and elution circuit installation
- Hot commissioning planned for Q1 2023
- Capital expenditure tracking at approximately US$40 million, inclusive of:
- expanded crushing circuit
- expanded TSF footprint
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Shanta Gold Ltd. published this content on 31 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2022 11:49:05 UTC.
