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Shanta Gold agrees finance for underground expansion at New Luika

Toby Bradbury, chief executive, said: "This is our second equipment financing with Sandvik over the last 15 months."
picture of gold being poured
Shanta is going underground at New Luika

Shanta Gold Limited (LON:SHG) has agreed €2.1mln (US$2.3mln) in equipment financing for its underground expansion at the New Luika gold mine in Tanzania.

The first tranche will be repayable from June 2017 and the second from October 2017. Both tranches will carry a fixed interest cost of 6.5% and repayable in quarterly instalments over 36 months. 

Toby Bradbury, chief executive, said: "This is our second equipment financing with Sandvik over the last 15 months, which is an important pillar of our financing plan for the underground capital development programme at our flagship asset, the New Luika Gold Mine."

  

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