Sanlam Kenya shareholders approve $25.1 million rights issue to boost capital
This move aligns with the company’s broader strategy to improve its financial standing and long-term stability.
This move aligns with the company’s broader strategy to improve its financial standing and long-term stability.
Patel, the founder of the Tanzania-based mining company, presently holds a 4.22-percent stake in Shanta Gold, or 44,274,017 ordinary shares.
As the founder of the Tanzania-based mining company, Patel currently holds a 4.22-percent stake in Shanta Gold.
Patel presently holds a 4.22-percent stake in the Tanzania-based mining company.
Shanta Gold will take over seven prospecting licenses for the West Kenya project.
Patel owns 44,274,017 ordinary shares, or 4.22 percent of the company.
The leading Tanzanian gold magnate owns a substantial 4.22-percent stake in Shanta Gold Limited.
Patel, who founded Shanta Gold in 2001, has seen a $5.3-million loss in the value of his stake since January.
Shanta Gold is a gold mining company registered in Guernsey in the Channel Islands.
Shares in the gold producer surged by 45 percent from April 1 to June 1.
Shanta Gold is an East Africa-focused gold producer based in Tanzania.