Shanta Gold Ltd - east Africa-focused gold producer, developer and explorer - Posts fall in profit due to mining lower grades of gold than anticipated. Pretax profit in 2021 falls to $1.0 million from $39.0 million in 2020. Revenue falls to $103.6 million from $147.4 million. The mining of lower grades at the New Luika gold mine in Tanzania resulted in higher production costs, the firm explains. 2021 gold production stood at 55,280, down from 82,978 ounces in 2020. Expects to produce 68,000 to 76,000 ounces in 2022.

Current stock price: 9.11 pence, down 6.6% on Tuesday

12-month change: down 38%

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