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Shanta Gold – New Loan – What is going On? Still Dirt Cheap

By Tom Winnifrith | Saturday 6 October 2012


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


AIM Listed gold producer Shanta (SHG) is in production and should be generating cash from its New Luika mine in Tanzania At June 30th it had $21 million in the kitty yet on October 5th it announced that it had secured a new $4 million loan facility from a director and was “in discussions with additional providers of working capital financing facilities to meet its short term working capital requirements during the ramp up phase of the New Luika Gold Mine.” What on earth is going on?

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