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Shanta Gold is a low cost gold producer with significant resource upside, within and surrounding its New Luika Gold Mine, with additional development opportunities in Tanzania

History

Shanta Mining Company Limited was founded in 2001 as a Tanzanian gold exploration company

Year
2015
Appointment of Dr. Toby Bradbury as COO to the Board. Toby Bradbury to replace Mike Houston as CEO in April 2015
2014
Successful exploration programme - Significant potential for further resource discoveries across the
Lupa Goldfields
Reserve/Resource upgrade - Provides the base for an extension to the life of mine
Luika & Bauhinia Creek remain open at depth
New loan facilities signed along with reduction in debt repayment schedule and standby loan facility in place
Crushing circuit commissioned Elution electro-winning plant installed at NLGM
2013
Declaration of maiden Probable Reserve of 479,000 oz at New Luika Gold Mine
Strengthened balance sheet through succesful debt restructuring
Consolidation of 100% interest in Shield Resources exploration licences and termination of the Exploration Agreement with Great Basin Gold
First full year of gold production
2012
Equity capital raising of $35 million
First gold pour at the flagship New Luika Gold Mine (August)
Commissioning of the New Luika processing plant
JORC compliant resource upgrade by 52% to 1.48m oz (1.0 g/t cut-off), at New Luika
Convertible loan note financing of $25 million concurrent $10 million equity placement
2011
Construction commencement at New Luika Gold Mine
Joint venture with Great Basin Gold covering Lupa Goldfields exploration ground
Equity capital raising of £15 million
2010
Chunya (New Luika) feasibility study completed; decision to mine
Singida Definitive Engineering Study completed
2008
Maiden resource declared of 500,000 oz gold
2007
Equity capital raising of $22 million
2005
Shanta Gold Limited (SGL) and its wholly owned Shanta Gold Holdings Limited (SGHL) incorporated and registered in Guernsey; acquired all the shares of Shanta Mining Company Limited and listed on the London Stock Exchange (AIM board) with symbol 'SHG'
Equity capital raising of £4.3 million by placing 17,224,735 shares on the market.
2003
SMCL completed acquisition of a substantial number of exploration licences
2001
Shanta MIning Company Limited (SMCL) founded by local businessmen as a private gold exploration company in Tanzania
1900s
British colonial and German gold mining in the Lupa Goldfield in Tanzania