StockMarketWire.com - Shanta Gold has narrowed its FY after-tax loss to $8.0m, from a loss of $17.3m previously.

Revenue totalled $107.1m, from $95.7m. Gold production was 87,713 oz, which was ahead of the guided 82,000-87,000 oz.

It sold 86,332 oz at an average price of $1220/oz.

All-in-sustaining-cost was $661/oz, against guidance of $690-$740/oz and from $834/oz in 2015.

Annual production guidance for 2017 was 80,000-85,000 oz at an AISC of $850/oz. In Q1 2017 it produced 20,416 oz at an AISC of $768/oz.

"In 2017, Shanta will continue with the delivery of its commitments as it transitions into a predominantly underground low cost operation at New Luika and look for growth opportunities at its Singida project and beyond," said CEO Toby Bradbury in a statement.






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