Shanta Gold falls as sale talks with Chaarat, Shandong end

Shanta Gold

14/11/2022 09:37

** Shares of East Africa-focused gold producer Shanta Gold
Ltd  SHAN.L  fall as much as 11.6% to 9.5p
    ** Co says no longer in talks with Shandong Gold Group and
Chaarat Gold Holdings  CGH.L  over possible takeover 
    ** Says there is no merit in continuing discussions of offer
with Shandong and Chaarat, which both parties have accepted
    ** Chaarat in separate statement says it does not intend to
make offer 
    ** SHAN on track to log worst day since December 2021, if
losses persist 
    ** Co has been in talks over possible sale with Yintai Gold
 000975.SZ , Shandong and Chaarat; Yintai Gold walked away on
Nov. 2 
    ** Up to last close, stock had risen ~30% YTD 
 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com;))