Shanta Gold Ltd (AIM:SHG) has recently reported the second-best exploration result this year when it announced further high-grade drilling results from.
Shanta Gold reduces debt to US$1.4mln on early repayment of Exim loan facility The early repayment of the Exim loan facility and the repurchasing of all outstanding convertible loan notes demonstrates our financial discipline, said chief executive Eric Zurrin
Shanta Gold Ltd’s (LON:SHG) gross debt of US$11.1mln (£8.0mln) has been reduced to US$1.4mln following the repurchase of all outstanding convertible loan notes and early repayment of an Exim loan facility, the East Africa-focused gold producer said in a first-quarter update.
“Following the announcement of our maiden dividend in March, we remain committed to enhancing our robust fundamentals to protect long-term sustainable returns,” said chief executive Eric Zurrin. Reducing our debt is a key part of that strategy. The early repayment of the Exim loan facility and the repurchasing of all outstanding convertible loan notes demonstrates our financial discipline and further strengthens our balance sheet.”