Shanta Gold Ltd. announced production results for the fourth quarter and earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported tonnes ore milled of 151,827; gold production of 18,897 oz; gold sales of 15,285 ounces and silver production of 24,731 oz.

For the quarter, cash used in operating activities was $0.1 million compared to $11.1 million of cash generated from operating activities in third quarter, reflecting lower gold price on lower sales at higher cost but also with increased working capital in supplier prepayments and VAT on all capital and operating expenditure.

For the year 2016, cash generated in operations is $45.9 million compared to $31.8 million in 2015. Capital expenditure was $12.9 million compared to $14.2 million a year ago. Net debt as a 31 December 2016 was $42.9 million compared to $38.4 million.

For 2017, the company reported annual guidance of 80,000 - 85,000 oz at AISC of $800 - $850 /oz.