PRECIOUS METALS

Shanta cuts production guidance again after Q4 woes

East Africa-focused miner Shanta Gold’s shares tumbled 20% on Tuesday morning as the company announced a last-minute production guidance cut for 2021, after operational issues at its New Luika mine in Tanzania.

 Shanta's New Luika mine in Tanzania

Shanta's New Luika mine in Tanzania

Shanta cut its full year guidance to 55,000 to 57,000 oz of gold, down 12% from previous forecasts of 60,000 to 65,000. The company ascribed the miss to "the supply by a 3rd party vendor of an unreliable...

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