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Shanta surges into the black

Strong gold prices, lower costs and rising production have helped East Africa-focused Shanta Gold move into net cash for the first time in the company’s producing history.

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Shanta Gold's primary asset is the New Luika gold mine, located in southwest Tanzania

Shanta moved from net debt of US$15.1 million at the end of Q1 to net cash of US$2.1 million at the end of June.

The company produced 22,216 ounces in the second quarter, up 12.

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