21st Jul 2015 08:55
LONDON (Alliance News) - Shanta Gold Ltd on Tuesday said its gold production increased in the first quarter but said it sold less of the precious metal at lower prices.
Shanta said its gold production in the three months to the end of June as 14,664 ounces, up from 13,516 ounces a year earlier. But the group sold 11,590 ounces in the quarter, down from 13,551 ounces in the first, and saw its average price realised for those sales fall to USD1,222 per ounce from USD1,252 per ounce.
But Shanta said its cash cost fell to USD834 per ounce in the quarter, down from USD1,143 per ounce in the first quarter.
The company maintained its production guidance for the full year.
Shanta shares were up 1.3% to 5.7 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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