East Africa-focused gold producer Shanta Gold’s New Luika gold mine produced 22 216 oz in the second quarter of the year, ended June 30, compared with the 20 167 oz produced in the first quarter of the year.
Based on an average realised gold price of $1 663/oz, Shanta Gold’s adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) increased to $19.4-million, from $15-million in the first quarter.