ETC Holdings Limited agreed to acquire Shanta Gold Limited (AIM : SHG).

Shanta Gold Limited is a gold producer, developer, and explorer. The Company holds exploration properties covering approximately 800 square kilometers in the under-explored ex-colonial mining areas of the Lupa Goldfield. Alongside its Tanzanian assets, the New Luika Gold Mine (New Luika) and the Singida Gold Project (Singida), the Company also owns the West Kenya Project in Kenya with defined high-grade resources and prospecting licenses. The New Luika is located in the Songwe District of Southwestern Tanzania, approximately 700 kilometers (km) south-west of Dar es Salaam. New Luika is an open pit and underground mining operation. Singida is located in the Ikungi region of Central Tanzania. The West Kenya Project covers approximately 556 square kilometers of the Lake Victoria greenstone gold field in western Kenya. The two mining centers, which are identified on the West Kenya Project Shanta Gold licenses include Kakamega Potential Mining Centre and Ramula Potential Mining Centre.