SAAGF - Shanta Gold CEO says life is good at Shanta ahead of planned handover
(NewsDirect)
Shanta Gold Limited (AIM:SHG, OTC:SAAGF)chief executive Eric Zurrin speaks to Thomas Warner from Proactiveabout how the East Africa-focused gold producer, developer andexplorer has been performing so far this year.
He says that "life is good atShanta" following a quarter in which production surged by 92% to29,000 ounces and EBITDA leapt by 207% to $23mln, leading to anattractive EBITDA ratio of under two times. Additionally, net debtplunged by 54% to $9 million, representing a $10 million debtreduction in just one quarter. Zurrin attributed these gains to thenew mine, Singida, which has been a significant addition to theirportfolio.
Zurrin also emphasises Tanzania's thriving miningsector, noting major investments by global giants like BHP andBarrick, underscoring the country's favourable business climate.Having announced back in April that he intends to step down from theCEO role, Zurrin goes on to say that whoever takes over from him willbe lucky to take the job, because "all the hard work is done."He reiterates his commitment to ensuring a smooth handover to theright candidate, noting that he will remain a shareholder in thebusiness.
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