Shanta Gold said production dropped in its latest quarter in its last update before Saturn Resources takes the miner over.
Group output in the three months to 31 March was 21,676 oz (Q4: 27,865 oz) with the mines at New Luika and Singida in Tanzania both seeing production dip.
Eric Zurrin, chief executive, commented: "Our diversified asset base across two mines helped mitigate the production loss during the Quarter that was caused by exceptionally wet weather in South Western Tanzania.
"Mine plan sequencing, equipment availability and gold recoveries at NLGM were all impacted during the Quarter. Since the end of March, the unusually heavy seasonal rains have subsided and we expect the impact of the new pre-leach thickener at NLGM in Q2 to drive an improvement in gold recoveries.
"Meanwhile, Singida continued to demonstrate strong performance, which helped to offset the impact at NLGM.
“Over the last few weeks, we have obtained all of the necessary in-country regulatory and governmental approvals relating to the acquisition of Shanta Gold by Saturn Resources and the transaction is on track to complete in May 2024."