https://www.engineeringnews.co.za

Trans-Siberian aims for upper-end of guidance

22nd October 2019

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

London-listed gold producer Trans-Siberian Gold (TSG) on Tuesday reported a 32% quarter-on-quarter increase in gold production to 12 620 oz in the third quarter, on the back of an improvement in grades at the Asacha mine.

The company reported a 6.3% year-on-year improvement in grade to 8.3 g/t and in the nine-months ended September, the average grade was 8.5 g/t – or nearly 26% better than the same period a year earlier.

In the first nine months of the year, Asacha produced 34 509 oz, which is a substantial 18.8% increase on production in the first nine months of 2018.

“We are particularly delighted to note that following a substantial increase in the average gold price last quarter, we have successfully maintained the high grade of 8.3 g/t during this period. Our production to date of 34 509 oz places TSG firmly on track to meet the upper-end of our annual output guidance of 40 000 oz to 44 000 oz," said CEO Alexander Dorogov.

Third-quarter revenue increased by 28% year-on-year to $14-million, reflecting the improved production and a stronger gold price.

 

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 
Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.104 1.641s - 140pq - 2rq
Subscribe Now