Trans-Siberian Gold plc (TSG.LN) announces its unaudited interim results for the period ended 30 June 2018.

Financial Highlights

  • Record H1 revenue generation of approximately $27.6 million (H1 2017: $18.8 million)
  • Profit before tax $3.2 million (H1 2017: $0.5 million)
  • EBITDA $8.8 million (H1 2017 $5.4 million)
  • Interim dividend of $1.0 million resulting in payment of $0.009 per share (H1 2017: $0.036 per share)

Operational Highlights

  • Gold dore increased by 25% to 17,361 oz. (H1 2017: 13,897 oz.)
  • Refined gold production 20,698 oz. (H1 2017: 15,007 oz.)
  • Mine development 2,802 metres (H1 2017: 2,625 metres)
  • Asacha plant processed average 15,370 tonnes per month, 2.3% above H1 2017
  • Average gold grade: 6.2g/t (H1 2017: 5.1g/t)
  • Average gold selling price of $1,324/oz. (H1 2017: $1,237/oz.)
  • Cash cost per oz. gold sold $644 (H1 2017: $553)

Alexander Dorogov, CEO of TSG, commented:

"It is particularly pleasing to report record revenue for an interim period and a return of higher grade ore (6.5-8 g/t) in recent months. Our results in the first half of 2018 reflect the actions taken to address some of the challenges we faced. We will continue our efforts to improve operational performance and drive further efficiencies at Asacha.

I am pleased to announce our fourth consecutive dividend which underlines our commitment to deliver returns for shareholders. We continue to make demonstrable progress and shareholders can look forward to the remainder of the year with optimism."

Copies of the Company's Interim Report and Accounts will be available on the Company's website: www.trans-siberiangold.com

Contacts:

TSG
Stewart Dickson
+44 (0) 7799 694195

Cantor Fitzgerald Europe
David Porter
+44 (0) 207 894 7000

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.

Download the announcement in full (PDF 577KB)

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