3rd Feb 2016 14:18
LONDON (Alliance News) - Shanta Gold Ltd on Wednesday said it has secured a EUR4.6 million finance agreement with Sandvik Mining and Construction Oy.
The financing will be used to purchase underground mobile equipment at its New Luika Gold Mine in Tanzania.
It is repayable quarterly in two tranches over 36 months, the first from June with a fixed interest cost of 7% and the second from September with a fixed interest cost also expected to be 7%.
The equipment is anticipated to arrive in Tanzania in stages from April.
Shares in Shanta Gold were trading up 1.6% at 8.00 pence on Wednesday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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