Shanta Gold, the East Africa-focused gold mining company, has revealed 'encouraging' results from a joint venture in Tanzania.
The company entered into a JV agreement with Great Basin Gold in 2011, enabling Shanta crews to conduct exploration over a large permit holding in the Lupa Goldfields, the second largest goldfields in Tanzania.
Shanta, which would earn up to 80% of identified resources, says it has found nine mineralised prospect areas and decent "gold values" up to 50 grams per tonne.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
Shanta shares were up 1% in morning trading.
BS
-
Is a mortgage in retirement always a bad idea?A mystery shopper exercise shows high street lenders are “shunning” retirees looking to take out a mortgage. Are they right to do so?
-
Three funds to consider as UK small caps trade at 30% discountUK small caps have been unloved for some time, but a shifting economic environment could give them a boost
