Shanta Gold produced 14,664 oz of gold in Q2 2015, some 8% higher than Q1 but significantly down from Q2 2014 production of 21,940 oz. Cash Costs were US$834/oz.(up 10% on Q2 2014) and All in Sustaining Costs (AISC) US$1,157/oz (up 21%).
The main reasons for the decrease in production, and increase in costs, were a 15% fall in tons milled and a drop in grade from 5.71 g/t to 4.27 g/t after a redevelopment of the Bauhinia Creek pit following a life-of-mine optimisation plan for Bauhinia Creek and the Luika pit.
In the first half of 2015 the company produced 28,180 oz of gold and, after increasing production in the month of June to budgeted levels, is on course to meet 2015 guidance of 72,000-77,000 oz of gold at AISC of US$850/oz-US$900/oz.
Shanta on course to meet 2015 gold production guidance: SHG