- East Africa-focused gold producer Shanta Gold said a scoping study for its West Kenya project estimated that it would cost around $161 million to develop.

Life-of-mine gold production was estimated at 949,000 ounces, with average annual output of 105,000 ounces for nine years.

The project would have a post-tax net present value of $340 million and an unlevered internal rate of return of 110%, the study found.

At 9:59am: [LON:SHG] Shanta Gold Ltd share price was +1.25p at 20.25p

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