Trans-Siberian expects to exceed 2018 gold guidance, secures cheaper electricity

11th January 2019

By: Marleny Arnoldi

Deputy Editor Online

     

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LSE-listed Russian miner Trans-Siberian Gold expects to exceed its 2018 gold production guidance of between 36 000 oz and 40 000 oz, as a result of an improved operational performance and improving gold grades.

The average gold grade for the third quarter last year was 7.8 g/t gold.

Additionally, the company expects its electricity supply contract to substantially reduce power costs in the year ahead.

Trans-Siberian has entered into a new electricity supply agreement with energy company Kamchatskenergo, which will supply power to the Asacha gold mine at a reduced price of RUR Rb4.69/kWh, or $0.07/kWh.

Meanwhile, construction of the underground dewatering pumping facilities continued at Asacha, albeit behind schedule.

Completion of the permanent facilities is expected in May.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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