Shanta posts record gold output

Shanta Gold yesterday reported record gold output of 20,254 ounces in the first quarter, up 3.5 per cent compared to the last quarter of 2013. The Aim-listed gold explorer said that cash costs were lower than expected and reaffirmed its full-year production and cost guidance. “The higher gold production has helped in managing costs and offsetting some delays being experienced at our plant improvement projects,” said chief Mike Houston.