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Production upturn for Shanta Gold: time to buy?

By Robert Tyerman | Wednesday 20 January 2016


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


East Africa-focused Shanta Gold (SHG) lifted output at its flagship New Luika gold mine in south-west Tanzania 20% to 29,139 oz. between the third and second quarters of last year and indicates full-year production for 2015 was 81,873 oz. That is down from 84,028 oz. in 2014 but ahead of more recent guidance suggesting between 72,000 oz. and  77,000 oz. for last year. Is this a recovery buy?


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