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Shanta Gold Limited (LON: SHG) is on the verge of retiring between 80,000 and 84,000 ounces of gold in 2019 after its first quarter results showed production to be 22,400 oz.
The Tanzanian-based explorer and gold miner also said the company was planning to have no more debt in the middle of next year.
President Eric Zurrin could barely wipe his smile when he told Proactive London that shareholder value was now at the center of the company's concerns and that the gold stocks they've obtained are "very good at know".
Underlying earnings for the quarter were $ 11.4 million, an increase of 15% over the previous three months and production costs on a sustainable basis were $ 701 per ounce compared $ 740 to $ 780 for this year.
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