Equity Analysis /
United Kingdom

GB : Shanta Gold Ltd - West Kenya resource boosted

    Tom Price
    Tom Price

    Analyst - Strategy, Accounting and Sustainability

    Yuen Low
    Ben Davis
    29 March 2022
    Published byCGS-CIMB

    Shanta Gold has increased it mineral resources estimate by 31% to 1.55Moz, including a 221% increase in the Indicated Resource category to 378 koz grading 11.7g/t. A further 700koz of additional inferred resource target for conversion in 2022. A feature is that current oxides contain 67,070oz grading 15.84g/t, which promise an excellent high margin cashflow during a later ramp up. On-going drilling success confirms the region’s upside. Feasibility work begins May 2022.