Trans-Siberian Gold plc (TSG.LN) is pleased to announce its audited financial results for the year ended 31 December 2017.
⦁ Revenue $43.4million (2016: $45.2million)
⦁ EBITDA $13.9 million (2016: $21.1 million)
⦁ Profit before tax $3.0million (2016: $9.3million)
⦁ Proposed final dividend $0.021 per share (2016: nil) amounting to $2.3million in aggregate
⦁ Total dividend pay-out of $6.3 million for the year (subject to final dividend approval at the AGM) (2016: $5.5 million)
⦁ New $19.5 million debt facilities at 6.2%, facilitating repayment of previous borrowings at 9.5%
⦁ Gold in dore 36,714 oz. (2016: 36,225 oz.)
⦁ Production at refinery 33,872 oz. gold (2016: 35,366 oz.)
⦁ Cost of sales per oz. of gold, $885 (2016: $757)
⦁ Cash cost per oz. gold sold $588 (2016: $417)
Charles Ryan, Non-Executive Chairman of TSG, commented:
“During the year we produced 33,872 oz. of refined gold at a cash cost of $588/oz. In our sixth year of production, our number one priority is to enhance our existing mining operations at Asacha. At the same time, we are well positioned to exploit future growth opportunities. We have a strong investment case and I am pleased for the Board to propose a final dividend of US2.1 cents per share.”
The Company confirms that copies of the Company’s Annual Report and Accounts will be sent to shareholders imminently and are appended to this announcement in their entirety.
Copies of the Company’s Annual Report and Accounts will be available on the Company’s website: www.trans-siberiangold.com
Stewart Dickson +44(0)7799 694915
Cantor Fitzgerald Europe
David Porter +44 (0) 207 894 7000
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.
Additional information is available from the Company's website: www.trans-siberiangold.com
Market Abuse Disclosure
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.