Trans-Siberian Gold plc (TSG.LN), a low cost, high grade gold producer in Russia, announces its unaudited interim results for the period ended 30 June 2019.

Financial Highlights

  • Record H1 revenue generation of $30 million, up 8.7% YoY (H1 2018: $27.6 million)
  • Profit before tax $8.5 million, up 169.7% YoY (H1 2018: $3.2 million)
  • EBITDA $14.4 million, up 62.2% YoY (H1 2018: $8.9 million)
  • $5.6 million special interim dividend of $0.051 per share declared and paid during the period
  • Completed 20.8% share buyback, increasing free float to 24.3%
  • Interim dividend of $2.0 million resulting in payment of $0.023 per share (H1 2018: $0.009 per share)

Operational Highlights

  • Gold dore production increased to 21,889 oz, up 26.1% YoY (H1 2018: 17,361 oz.)
  • Refined gold production increased to 23,155 oz, up 11.9% YoY (H1 2018: 20,698 oz.)
  • Average gold grades 38.7% higher YoY at 8.6g/t (H1 2018: 6.2g/t)
  • Average selling price for gold remains flat at $1,312/oz. (H1 2018: $1,324/oz.)
  • Reduced Total Cash Cost per oz. gold by 24.6% to $672/oz (H1 2018: $891/oz)
  • Reduced AISC per oz. gold by 38.0% to $850/oz (H1 2018: $1,370/oz.)
  • Enhanced asset base with acquisition of development and exploration licence for Rodnikova deposit
  • Strengthened Senior Management with appointments of new Chief Financial Officer and Mine Manager
  • On track to achieve annual production guidance of 40,000 – 44,000 oz.

Alexander Dorogov, CEO of TSG, commented:

"We are proud to once again report record revenues of $30 million for the first six months of the year, reflecting superior operational performance.

We have seen some exciting accomplishments over the period, including the addition of two highly experienced individuals to our Senior Management team, the acquisition of the licence for the high-calibre Rodnikova deposit, one of the largest gold fields in South Kamchatka, and the completion of a $7.6 million share buyback.

I would also like to highlight that we are now mining at consistently higher grades (averaging 8.6g/t) and look to drive further the initiatives for improvements in our operational efficiency.

With the issuance of our seventh consecutive dividend, I am very pleased to be confirming our commitment to continued shareholder returns, and we look forward to the remainder of the year with optimism."



Stewart Dickson
+44 (0) 7799 694195

Arden Partners plc
Paul Shackleton (Corporate Finance)
Tim Dainton / Fraser Marshall (Equity Sales)
+44 (0) 207 894 7000

Hudson Sandler (Financial PR)
Charlie Jack / Katerina Parker / Elfreda 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:

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.


AISC: All-In Sustaining Costs
g/t: grammes per tonne
oz: ounce
m: metre


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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