Our new website is coming soon, give it a try now and let us have your feedback. Take me to the Beta



Register
Login:
Share:
Email Facebook Twitter


TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake
Exclusive: Hardman & Co Investor Forum - Severn Trent, Calculus Capital, Volta Finance, Residential


Alliance News


Trans-Siberian Says Gold Production Will Exceed Annual Guidance

Fri, 11th Jan 2019 09:09


LONDON (Alliance News) - Trans-Siberian Gold PLC said Friday that gold production will slightly exceed annual guidance due to the continued improvement in operational performance at the Asacha gold mine in the final quarter of 2018.

Shares in the company were trading 5.2% higher at 36.30 pence each in morning trade.

"We are making continuous improvements at the Asacha gold mine which are delivering real results," said Chief Executive Alexander Dorogov.

The miner expects to slightly exceed the upper end of the full year total gold production guidance of 36,000 to 40,000 gold ounces for 2018.

Improved performance at the Russian mine in the second half of 2018 has also resulted in improved gold grades in the fourth quarter, the company said. Average gold grades stood at 7.8 grams per tonne in the third quarter.

Trans-Siberian Gold also said it has signed a new 12-month electricity supply agreement with Kamchatskenergo, which will supply power to the Asacha mine at a reduced price of RUB4.69 per kilowatt, or around 7 US cents per kilowatt, due to measures taken by the Russian government to develop the Far East of Russia.

Kamchatskenergo is a part of electricity company RusHydro Group

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

Alliance News



Back to Alliance News


Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk


Home  |  Contact Us  |  About Us  |  Advertise with Us  |  Sitemap  |  Terms & Conditions  |  Cookies  |  Privacy  |  Mobile Site  |  About this website design


Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.