15 Dec 2020 07:00
15 December 2020
Trans-Siberian Gold plc
("TSG", the "Company" or the "Group")
Increased Production Guidance for 2020
Trans-Siberian Gold plc (TSG.LN), a low-cost, high-grade gold producer in Russia, is pleased to provide the following production guidance update for 2020.
Highlights
· Approximately 40,297 ounces of gold doré produced in the 11 months ended 30 November 2020
· Production guidance for the year to 31 December 2020 increased to between 44,000 and 45,000 ounces of gold doré
The Group has made significant progress in 2020, in particular with the transition towards the East Zone of the Asacha Gold Mine, with test ore from Vein 25 contributing towards higher-than-expected average grades in the second and third quarters. In the eleven months to 30 November 2020 the Group produced 40,297 oz.
Consequently, the Group is now on track to exceed the upper end of the previous 2020 full year production guidance of 38,000-42,000 oz with expected production of approximately 44,000-45,000 oz. This would make 2020 a year of record gold production.
Alexander Dorogov, Chief Executive Officer of Trans-Siberian Gold plc commented:
"We are now on track to exceed the upper end of our annual production guidance and expect to produce approximately 44,500 oz in 2020. This is a strong achievement in a challenging year and a testament to the quality and grades of the orebody at Vein 25, as well as to the endeavour and resilience of our team in Kamchatka. We look forward to a promising year ahead."
TSG intends to provide a production update for Q4 2020 and guidance for 2021 in January 2021.
Updated guidance on dividends for the full year 2020 is expected to be announced by the end of December.
ENDS
Contacts: |
|
TSG Stewart Dickson | +44 (0) 7799 694195 |
Arden Partners plc Paul Shackleton (Corporate Finance)Tim Dainton / Fraser Marshall (Equity Sales) | +44 (0) 207 614 5900 |
Hudson Sandler (Financial PR) Charlie Jack / Katerina Parker / Elfreda Kent | +44 (0) 207 796 4133 |
About TSG
TSG is focused on low cost, high grade mining operations and stable gold production from its 100% owned Asacha Gold Mine in Far East Russia. The Company also holds the licence for the development and exploration of the Rodnikova deposit, one of the largest gold fields in South Kamchatka.
Additional information is available from the Company's website: www.trans-siberiangold.com
Market Abuse Regulations
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
Disclaimer
This announcement contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets, fluctuations in interest and/or exchange rates and metal prices; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements.