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In upbeat mood, Toby Bradbury, chief executive officer of East Africa-focused Shanta Gold (SHG), has launched the Guernsey-based company’s underground feasibility study, base case mine plan and an updated reserve estimate for its operations in south-west Tanzania. These suggest the company’s flagship New Luika gold mine could produce an average 84,000 oz. a year for five years from the mine’s underground resources at an all-in cost of $640 (£421) an ounce for an initial five years, against a present gold price of $1,131.23c an ounce.
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