ETC Holdings-backed Saturn Resources to acquire Shanta Gold for £142m.

ETC Holdings-backed Saturn Resources to acquire Shanta Gold, a gold mining company, for £142m. "Shanta has successfully brought two mines into production since 2013 and has an exciting development project in West Kenya. Whilst the Independent Shanta Directors have confidence in Shanta's ability to deliver on its business plan and to continue to deliver strong results and growth in the future, this is an all-cash offer at a premium to the current price when the gold price is close to an all-time high. As such it provides an exit opportunity in cash for all shareholders taking into account the current gold price as well as the operational and other risks inherent in the business," Tony Durrant, Shanta Gold Chairman. On March 19, 2023; Saturn Resources increases its offer for Shanta to £156m.