TIDMTSG
RNS Number : 1601H
Trans-Siberian Gold PLC
02 August 2021
2 August 2021
Trans-Siberian Gold plc
("TSG", the "Company" or the "Group")
H1 Production & Operations Update
Trans-Siberian Gold plc (TSG.LN), a low cost, high grade gold
producer in Russia, announces its production update at the Asacha
Gold Mine for the quarter ("Q2") and six months ended 30 June 2021
("H1" or the "Period").
H1 Highlights
-- Average gold grade down 5.4% year on year ("YoY") at 6.1 g/t (H1 2020: 6.4 g/t)
-- Average realized gold price increased 4.3% YoY to $1,764/oz (H1 2020: $1,691/oz)
-- Total gold doré production decreased by 3.8% YoY to 17,579 oz (H1 2020: 18,278oz)
-- Gold revenue increased by 11.4% YoY to $32.4 million (H1 2020: $29.1 million)
-- Total revenues increased 12.3% YoY to $33.6 million (H1 2020: $29.9 million)
Q2 Highlights
-- Average gold grade down 12.9% quarter on quarter ("QoQ") at 5.7 g/t (Q1 2021: 6.5 g/t)
-- Average realized gold prize increased by 3.7% QoQ to $1,796/oz (Q1 2021: $1,732/oz)
-- Total gold doré production decreased by 12.4% QoQ to 8,208 oz (Q1 2021: 9,371 oz)
-- Total gold sold decreased by 3.5% QoQ to 9,021 oz (Q1 2021: 9,349 oz)
-- Gold revenue was flat QoQ at $16.2 million (Q1 2021: $16.2 million)
Production Summary
Mining and production data for Q2 and H1 2021 at the Asacha Gold
Mine is shown in the following tables:
Q2 2021
Metric Q2 Q1 Q-on-Q Q2 Y-on-Y
------------------
2021 2021 % Change 2020 % Change
------------------ --------- ------- ------- --------- ------- ---------
Mine development (m) 676 625 8.3% 1,510 -55.2%
Ore extracted (tonnes) 20,284 37,172 -45.4% 43,497 -53.4%
================== ========= ======= ======= ========= ======= =========
Ore processed (tonnes) 47,864 44,597 7.3% 50,316 -4.9%
Grade, gold (g/t) 5.7 6.5 -12.9% 7.6 -24.9%
Grade, silver (g/t) 15.6 26.8 -41.8% 19.8 -21.2%
Recovery, gold (%) 92.7 94.4 -1.8% 94.0 -1.4%
Recovery, silver (%) 70.8 73.6 -3.8% 79.3 -10.7%
Gold in dore (oz) 8,208 9,371 -12.4% 11,419 -28.1%
Silver in dore (oz) 17,523 29,515 -40.6% 25,774 -32.0%
================== ========= ======= ======= ========= ======= =========
Gold refined (oz) 8,910 9,454 -5.7% 11,114 -19.8%
Silver refined (oz) 19,650 27,017 -27.3% 26,062 -24.6%
================== ========= ======= ======= ========= ======= =========
Gold sold (oz) 9,021 9,349 -3.5% 11,357 -20.6%
Silver sold (oz) 19,727 27,081 -27.2% 47,989 -58.9%
Gold price ($/oz) 1,796 1,732 3.7% 1,738 3.3%
Silver price ($/oz) 26.3 25.0 5.2% 17.7 48.9%
Gold Revenue* ($,000) 16,202 16,196 0.0% 19,740 -17.9%
Silver Revenue* ($,000) 520 678 -23.4% 849 -38.8%
Total Revenue* ($,000) 16,721 16,874 -0.9% 20,588 -18.8%
------------------ --------- ------- ------- --------- ------- ---------
H1 2021
Metric H1 H1 Y-on-Y H2 H-on-H
------------------
2021 2020 % Change 2020 % Change
------------------ --------- ------- ------- --------- -------- ---------
Mine development (m) 1,301 3,051 -57.4% 1,496 -13.0%
Ore extracted (tonnes) 57,456 77,506 -25.9% 92,412 -37.8%
================== ========= ======= ======= ========= ======== =========
Ore processed (tonnes) 92,461 94,537 -2.2% 101,689 -9.1%
Grade, gold (g/t) 6.1 6.4 -5.4% 8.9 -31.2%
Grade, silver (g/t) 21.0 19.6 7.5% 13.1 60.2%
Recovery, gold (%) 93.6 94.2 -0.6% 94.2 -0.6%
Recovery, silver (%) 72.9 79.0 -7.7% 78.1 -6.7%
Gold in dore (oz) 17,579 18,278 -3.8% 26,788 -34.4%
Silver in dore (oz) 47,039 47,466 -0.9% 31,409 49.8%
================== ========= ======= ======= ========= ======== =========
Gold refined (oz) 18,364 17,149 7.1% 26,689 -31.2%
Silver refined (oz) 46,666 48,267 -3.3% 32,406 44.0%
================== ========= ======= ======= ========= ======== =========
Gold sold (oz) 18,370 17,194 6.8% 26,690 -31.2%
Silver sold (oz) 46,808 47,989 -2.5% 32,341 44.7%
Gold price ($/oz) 1,764 1,691 4.3% 1,884 -6.4%
Silver price ($/oz) 25.6 17.7 44.6% 24.5 4.5%
Gold Revenue* ($,000) 32,398 29,072 11.4% 50,276 -35.6%
Silver Revenue* ($,000) 1,197 849 41.1% 791 51.3%
Total Revenue* ($,000) 33,595 29,921 12.3% 51,067 -34.2%
------------------ --------- ------- ------- --------- -------- ---------
*Note: Unaudited figure
Totals may not add up due to rounding
Takeover Offer
Pursuant to the Offer by Horvik, cancellation of TSG Shares to
trading on AIM will take effect at 7.00 am on 9 August 2021.
ENDS
Contacts:
TSG
Stewart Dickson +44 (0) 7799 694195
Canaccord Genuity Limited
(Nominated Adviser & Joint Corporate Broker)
Henry Fitzgerald-O'Connor / James Asensio +44 (0) 20 7523 8000
Panmure Gordon (UK) Limited
(Joint Corporate Broker)
John Prior / Hugh Rich / Ailsa MacMaster +44 (0) 20 7886 2500
Hudson Sandler
(Financial Public Relations)
Charlie Jack / Katerina Parker / Elfie
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.
Abbreviations
g/t grammes per tonne
oz ounce
m metre
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.
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END
UPDSSIFUFEFSESA
(END) Dow Jones Newswires
August 02, 2021 02:00 ET (06:00 GMT)
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