Shanta Gold

Website: www.shantagold.com
Primary ticker: AIM:SHG
Stage of development: Exploration, Development, Production
Commodity: Gold
Project to promote: New Luika Gold Mine
Project location: Tanzania
Company presentation: click here

Live financials

Cash: USD$6M
Debt:
USD$21M

Major shareholders:
Odey Asset Management- 19%
Sustainable Capital Limited- 12%
Majedie Investments- 7%
River & Mercantile- 6%
Hargreaves Lansdown Asset Management- 6.2%
Management ownership – 9% including Directors

Shanta Gold is an East Africa-focused gold producer, developer and explorer. The company is focused on its flagship asset, the New Luika Gold Mine (New Luika), located in southwest Tanzania. These projects are complemented by the recent strategic, high-grade acquisition in Kenya from Barrick Gold.

– Total gold reserve & resource inventory of 3.1 Moz (Incl West Kenya Project)
– Inferred NI 43-101 Mineral Resource Estimate of 1,182,000 ounces gold grading 12.6g/t
– Covers 1161 sq km within the highly prospective Lake Victoria greenstone gold fields located in NW Tanzania and SW Kenya

Management Profile

Eric Zurrin – CEO

Eric Zurrin has 18 years’ experience in mining and investment banking, previously with UBS Investment Bank in London. Eric re-joins Shanta having previously worked across a range of roles with Shanta including as interim CFO in 2015/2016 leading the financial restructuring and as a Commercial Analyst advising the former CEO in 2013. Eric is a Canadian national and has worked and lived in North America, the UK, Asia and Africa. Eric completed his Bachelor of Commerce (Accounting) in Canada.


Luke Leslie, CFO

Luke is a mining investor with a background in Mergers & Acquisitions. He was formally a member of UBS Investment Bank’s Corporate Finance team based on London. Luke began his career as a management consultant with Accenture where he specialised in post-acquisition integration and cost reduction strategies. Luke has served on the Board on number of junior mining companies including Kincora Copper and REBgold prior to its merger with Aquila Resources. Luke has lived and worked in China, Hong Kong, Outer Mongolia and Myanmar. He is currently a resident of Tanzania.Luke is a mining investor with a background in Mergers & Acquisitions. He was formally a member of UBS Investment Bank’s Corporate Finance team based on London. Luke began his career as a management consultant with Accenture where he specialised in post-acquisition integration and cost reduction strategies. Luke has served on the Board on number of junior mining companies including Kincora Copper and REBgold prior to its merger with Aquila Resources. Luke has lived and worked in China, Hong Kong, Outer Mongolia and Myanmar. He is currently a resident of Tanzania.


What is your rationale for attending 121 Mining Investment?

Meeting Institutional Investors


What recent news would you like to highlight to investors attending?

Shanta Gold Acquisition of Barrick Gold’s Kenya Projects, adding a high grade resources to Shanta Gold’s regional portfolio


What are your key goals for the next 3, 6 and 12 months?

3 Months:

Approaching net cash position
Update Singida project with reserve and economics
Complete acquisition of West Kenya Project

6 Months:

Scoping study at West Kenya to be progressed in 2020

12 Months:

Extend Mine Life at New Luika
Construction at Singida
Upgrade and expand resource at West Kenya


What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Coronavirus: not reliant on Fly In Fly Out workforce


What do you think makes your company such a compelling investment?

Shanta Gold is a low cost, high grade gold producer