Shanta Gold Ltd. Announces Production and Cash Flow Results for the Fourth Quarter and Full Year Ended December 31, 2013; Reaffirms Production Guidance for the Full Year 2014
For the year, the company reported tones milled were 391,892 or 1,074 per day. Recovery was 87.9% with grade 6.23 g/t. Total gold sales was 61,877 ounces and realized gold price was USD 1,409. Full year 2013 production of 64,054 ounces, marginally ahead of guidance of 63,000 ounces.
Capital expenditure for the fourth quarter of USD 3.2 million and was mainly on the elution/electro winning and crusher/screening plants. The company generated positive cash flow in the quarter of USD 2.3 million.
The company generated positive cash flow in the full year of USD 10.4 million respectively.
The company announced reaffirming full year 2014 production guidance of 80,000 ounces.