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Shanta Gold launches AIM listing
Source: Metal Bulletin
Publication: metalbulletin.com
11 July 2005
Tanzanian gold mining junior Shanta Gold launched its listing on London's Alternative Investment Market on July 11. The company has raised 3.5 million through a placing of 17,224,735 shares at 25 pence per share. The company's current market capitalisation is 15,556,184. Its primary asset is Mgusu in central Tanzania, with current resource estimates of approximately 750,000 oz. "Our core projects in Tanzania have potential for significant production against the backdrop of a strong gold price. Our aim is to drive forward exploration, establish commercial viability of the projects and be in a position to construct and commission a gold mine," said George Bennett, ceo of Shanta, in a statement. Prior to joining Shanta, Bennett was head of mining research sales at HSBC.