21 Jan 2014 07:00
Trans-Siberian Gold plc
Asacha mining and production update
LONDON: 21 January 2014 - Trans-Siberian Gold plc ("TSG" or the "Company") (TSG.L) reports that mine development at Asacha in the fourth quarter of 2013 comprised approximately 730 metres, while ore extraction (including ore from stoping and mine development) amounted to 53,651 metric tonnes, the highest quarterly total to date. In the same period, 42,391 mt was processed through the Asacha plant, also the highest quarterly total to date and approximately 13% above the plant's nominal capacity.
During the period dilution continued to affect the grade of ore delivered to the plant, however the previously reported measures to reduce dilution, including changes to mine development and stoping methods, are expected to lead to significantly higher grades from the recently developed areas to be mined in 2014.
Mining and production at Asacha in 2013 is shown in the following table.
1st quarter 2013 | 2nd quarter 2013 | 3rd quarter 2013 | Oct 2013 | Nov 2013 |
Dec 2013 | 4th quarter 2013 | total 2013 | total 2012 | |
Mine development (metres) | 396 | 795 | 751 | 266 | 161 | 303 | 730 | 2,672 | 4,124 |
Ore extracted (tonnes) | 45,352 | 47,923 | 38,647 | 18,202 | 17,616 | 17,833 | 53,651 | 185,573 | 127,646 |
Ore processed (tonnes) | 35,585 | 35,298 | 41,941 | 14,870 | 13,110 | 14,411 | 42,391 | 155,215 | 136,154 |
Average gold grade (g/t) | 6.36 | 6.60 | 6.63 | 5.34 | 5.26 | 6.29 | 5.64 | 6.29 | 6.54 |
Average silver grade (g/t) | 9.80 | 10.77 | 10.79 | 10.12 | 10.62 | 10.50 | 10.40 | 10.45 | 11.79 |
Gold recovery rate (%) | 94.52 | 93.58 | 94.95 | 94.94 | 94.14 | 94.50 | 94.54 | 94.43 | 95.41 |
Silver recovery rate (%) | 78.81 | 70.28 | 75.43 | 74.87 | 75.46 | 80.12 | 77.13 | 75.44 | 68.49 |
Gold in dore (oz) | 6,826 | 6,929 | 8,611 | 2,421 | 2,093 | 2,786 | 7,300 | 29,666 | 27,920 |
Silver in dore (oz) | 8,791 | 8,416 | 10,878 | 3,644 | 3,355 | 4,052 | 11,051 | 39,136 | 35,924 |
Gold refined (oz) | 6,833 | 7,117 | 7,306 | 3,683 | 1,421 | 3,310 | 8,414 | 29,670 | 27,588 |
Silver refined (oz) | 8,865 | 8,826 | 8,491 | 5,630 | 2,087 | 5,127 | 12,844 | 39,026 | 35,110 |
TSG intends to report Asacha's first quarter 2014 production in April 2014.
On 30 September 2013 TSG reported that it had been agreed with Sberbank that a gold price hedge programme would be implemented for the revised five year term of the bank's loan facilities, with gold price protection for the initial 12 month period to be put in place by 1 November 2013. It was subsequently agreed with the bank to defer the start of the price protection programme with an amendment to the interest rate until such commencement at an annual cost of approximately US$250,000. Discussions continue with the bank and a further announcement will be made in due course.
Ends
Contacts
TSG |
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Contacts
TSG |
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Simon Olsen | + 44 (0) 7770 484965 | Simon Olsen | + 44 (0) 1480 811871 + 44 (0) 7770 484965 |
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Cantor Fitzgerald Europe | +44 (0) 207 894 7000 | Cantor Fitzgerald Europe | +44 (0) 207 894 7000 |
Tom Sheldon / Stewart Dickson (Corporate Finance) |
| David Foreman / Stewart Dickson (Corporate Finance) |
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Jeremy Stephenson (Corporate Broking) |
| Jeremy Stephenson (Corporate Broking) |
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TSG.L (TSG)