Odey Adds to Shanta Gold Position ~ market folly

Thursday, October 17, 2013

Odey Adds to Shanta Gold Position

Crispin Odey’s Odey Asset Management has been adding to its holding of London listed Shanta   Gold (LON: SHG). Due to trading on October 10th,  Odey now own 16.1% of Shanta’s voting rights.  

It has been nearly a year since Odey first disclosed a stake in Shanta. Since then, they have filed eight times to disclose an increased holding. Odey seem to have bought between £17 and £9 per share, adding to their position as the price has moved downwards.

Although it has moved down considerably, Shanta’s stock price has not been as volatile as many other gold miners during the last year.

Per Google Finance - “Shanta Gold Limited is engaged in gold exploration, development and mining in Tanzania. The Company’s properties include New Luika, Lupa Goldfields , Singida, Mgusu, and Songea. The Company’s portfolio of properties includes approximately 35 prospecting licenses, which covers a total surface area of approximately 962 square kilometers. Its flagship project, New Luika Gold Mine has approximately five prospecting licenses covering approximately 199 square kilometers.”

You can view a recent interview with Crispin Odey's market outlook here.

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