Tanzania focused gold miner Shanta Gold has issued a significant upgrade of the estimated resources at its New Luika Gold Mine.
The company says the latest independent estimate suggests there is 1.48m ounces of in-situ gold at the site, a 52% increase on the previous figure.
The company is now revising its mining plan to take account of the increased size of the deposit.
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Shanta's Executive Chairman, Walton Imrie, says the company is still on track to "pour" its first gold by the end of September.
The stock had risen 7% by 10:03.
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