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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