Shanta Gold quarterly output increases but sales fall

21st Jul 2015 12:05

(ShareCast News) - Gold producer Shanta Gold reported an increase in output in the first quarter, although sales declined in the period.In the three months to 30 June, the group produced 14,644 ounces of gold, an 8.49% increase year-on-year although sales declined 14.5% to 11,590 ounces.Shanta added its average price for the sales also fell, dropping 2.40% to $1,222 per ounce, although the group reported a decline in costs, which fell 27% to $834 per ounce.In a short statement on Tuesday, the group reiterated its full-year guidance.Shanta shares were up 0.44% to 5.65p at 1128 BST on Tuesday.