Shanta Gold Limited is an exciting gold exploration and development company, engaged in greenfields to advanced exploration in highly prospective under-explored areas in Tanzania. Shanta boasts a strong board and an experienced mining and exploration management team, combined with influential Tanzanian shareholders and partners.

Established in 2001, Shanta Gold was admitted to the London Stock Exchange's Alternative Investment Market (AIM) in July 2005.

Strategy:

The company’s business strategy has been revised to take account of uncertain market conditions and a difficult funding environment. Essentially Shanta remains committed to adding value to its assets and increasing its resource base, while maintaining a medium-term secure cash position and investigating the possibility of alternative sources of finance, initially through possible small scale mining.

Gold mining has dominated Tanzanian industry for more than a century and Tanzania is now Africa's third largest gold producing country after South Africa and Ghana. Nonethless, the country remains under- explored in comparison with other gold producers of its size and there is therefore a high probability of future discoveries. 

With its abundance of natural resources, thriving economy and booming tourism industry, Tanzania is one of the most profitable African countries.

Investor-friendly mining laws and favourable tax rules have contributed to mining becoming the fastest growing sector in Tanzania, in terms of contributions to GDP and exports. This industry can also rely on Tanzania's solid infrastructure - roads, rail network, coastal ports, two international airports and telecommunications.

Gold mining has dominated Tanzanian industry for more than a century and Tanzania is now Africa's third largest gold producing country after South Africa and Ghana. Nonethless, the country remains under-explored in comparison with other gold producers of its size and there is therefore a high probability of future discoveries.

Chunya: Seven prospecting licences covering approx 327 km²; Chunya Administrative District in the Lupa goldfields, Mbeya region, south west Tanzania, the second largest gold producing region in Tanzania.

To date the following geological exploration work has been completed:

• Conventional stream sediment geochemical sampling
• Grab, soil, pit and trench geochemical sampling
• Detailed geological and preliminary geological and structural mapping
• Airborne radiometrics and magnetics
• Two phases of drilling carried out PL2787/2004 comprising 7,800 m reverse circulation (RC) and 1,925 m diamond cored (DC)

For more information about Chunya please click here.

Mgusu: One prospecting licence covering 0.4 km²; Ilemela Administrative District in the Mwanza region of north-western Tanzania.

To date the following geological exploration work has been completed:

• Grab, soil, pit and trench geochemical sampling programs
• Detailed geological and structural mapping programs
• Aerial survey
• Reverse circulation and diamond core drilling programs.

For more information about Mgusu please click here.

Singida: Ten prospecting licences covering 474 km²; Singida Administrative District, Singida Region, central Tanzania.

To date the following geological exploration work has been completed:

• Conventional stream sediment geochemical sampling programs
• Grab, soil, pit and trench geochemical sampling programs
• Detailed geological and structural mapping programs
• Airborne radiometric and magnetometry surveys
• Extensive Induced Polarisation surveys
• Comprehensive drilling programs have been completed on prospecting licences PL2384/2003, PL2792/2004 and various Primary Mining License areas.
• A total of approximately 74 000 m Reverse Circulation (RC) drilling and 6 800 m Diamond Core (DC) drilling, commissioned at numerous prospects, has been completed to date.
• All drilling results have been incorporated into a JORC compliant Preliminary Resource Assessment.

For more information about Singida please click here.

Songea: Fifteen prospecting licences covering 378 km²; Mbinga and Songea Administrative Districts in the Ruvuma region of south-western Tanzania.

Exploration work completed:

• Preliminary rock (grab) geochemical sampling programs
• Airborne radiometric and magnetometry survey
• Initiation of a first pass handheld scintillometer traverse program, over a limited grid, targeting extensive uranium anomalism identified during the airborne radiometric survey.

For more information about Songea please click here.

Walton Imrie, (58) - Executive Chairman

Mr Imrie is a member of the Audit and Remuneration Committees. He started his career in stockbroking in South Africa in the early 1970s, then took up employment with Shaw & Co in London. Mr Imrie started an independent financial consultancy business which eventually became the Swiss based asset management company, Kestrel SA. He has been involved with gold mining and exploration through a number of vehicles including Simmer and Jack Mines Limited and Southern Prospecting (Pty) Limited. The latter company listed Randex and Potchefstroom Gold Areas in the 1980s in South Africa. Mr Imrie was a board member of Francistown Mining Limited. Its principal asset is the Toronto and Sydney listed Lionore Mining Limited. He is currently a director and shareholder of Pan African Mining (Pty) Ltd, a Zimbabwean gold producer.

Gareth Taylor (52) - Chief Executive Officer, NHD Metalliferous Mining (Wits Technikon) GradDipEng (Wits)

Mr Taylor’s portfolio will include the management of feasibility studies, imminent mining operations, and stakeholder relations and corporate affairs in Tanzania. Mr Taylor has extensive experience experience in deep level, intermediate, shallow underground and open cast mining in a number of African countries including Mali, Namibia, South Africa and Tanzania. For 28 years he was employed by AngloGold Ashanti where he was head of mining and planning for the company’s East and West África region and also managing director of the Geita Gold Mine in Tanzania. More recently Mr Taylor joined Barrick Gold, where he was executive general manager for Barrick Gold Tanzania and vice president for Barrick Gold Africa, responsible for all Barrick's operational interests in Africa.

Paul David Heber (47) - Non–executive Director

Paul Heber is an investment manager and stockbroker with more than 20 years experience in global stock markets, following 3 years in the oil industry. Formerly with SGHambros, Nat West and WI Carr, he is now with bespoke boutique Savoy Investment Management, regulated by both the FSA in London and the FSB in Johannesburg. He has a broad pan-African clientele alongside his domestic UK, European and Bermudian business.

Paul David Heber is currently a director of LonZim PLC and Savoy Investment Management Limited. He has no previous directorships or partnerships within the past 5 years.

Ketan Patel (42) - Non–executive Director

Mr Patel is the chairman of the Audit and Remuneration Committees. He attended schools and colleges in Kenya, India and the United Kingdom. Mr Patel has worked extensively in trading organisations in the UK and since 1986 has traded agrocommodities internationally. He is a senior director of Exporting Trading (Pty) Ltd and is Managing Director of the Sea Cliff and White Sands Hotels in Dar es Salaam. Mr Patel is also a director of Cielmac Ltd, a property company in Tanzania.

Maheshkumar Raojibhai Patel (53) - Alternate Director

Mr Patel serves on the boards of Cielmac Limited; Technobrain Limited; POA Rice Mills Limited; Kizota Agro Products Limited; and Hotel Sea Cliff Limited.

Updated from Shanta Gold website 23.03.2012