Christmas comes early for Shanta

Tanzania-focused gold explorer Shanta Gold is on course to get its New Luika project commissioned in the first quarter of next year after securing a bridging loan from a company affiliated to one of its directors.

Tanzania-focused gold explorer Shanta Gold is on course to get its New Luika project commissioned in the first quarter of next year after securing a bridging loan from a company affiliated to one of its directors.

Shanta Gold has secured a $5m loan facility with Export Trading Group, a company in which Ketan Patel, a director of Shanta Gold, has a beneficial interest. The loan facility was made available on 20 December 2011 and is repayable within six months of a draw down.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.