TSG.L Share News (TSG)

(ShareCast News) - Trans-Siberian Gold reported on Thursday that mine development at Asacha in the fourth quarter of 2016 comprised 1,499 metres.The AIM-traded company said ore extraction - including ore from stoping and mine development - amounted to 48,658 tonnes."In 2016, an average 13,574 mt per month was processed through the Asacha plant, [which was] 8.6% above target," the firm's board said in a statement."Processed gold grades in the fourth quarter improved significantly month on month, with an overall 20.8% increase from the third quarter."As previously reported, TSG said it expects the commencement of stoping at level 100m by mid-2017 will enable the delivery of up to 12,500 tonnes of high quality stoping ore to the plant each month, with a consequent improvement in the average gold grade of ore delivered to the plant for processing.Trans-Siberian said it expects to report first quarter 2017 gold production for Asacha in April.