Shanta Gold finds Tanzanian gold

East African gold mining company Shanta Gold yesterday revealed “encouraging” exploration results from its Lupa gold field in Tanzania. Shanta signed a joint venture agreement with Great Basin Gold last year to explore Lupa Goldfields, the second largest gold field in the African country. Shanta said it had found nine prospect areas with good gold values. Despite the positive update, the shares fell 2.48 per cent in trading yesterday to close at 29.5p.