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Trans-Siberian Gold annual revenue jumps 28%
StockMarketWire.com
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Russia-focused miner Trans-Siberian Gold said it had boosted its annual revenue by 28% after it benefited from a higher gold price during the pandemic.
Revenue for the year through December had increased to $81 million, up from $63.1 million year-on-year.
Gold gold dore production rose 3.6% to of 45,066 ounces and the company achieved an average gold price of $1,808 an ounce, up 29%.
Chief executive Alexander Dorogov said the company's immediate focus was on analysing a recent tragic rock fall accident at Vein 25 at its Asacha mine and taking appropriate remedial action.
'We are deeply saddened by the accident and reiterate our condolences to the family and friends of our colleagues; we continue to support them in every way possible,' Dorogov said.
'Significant work is ongoing to understand the causes of the accident and once investigations are complete, we will advise on our plans to recommence mining at Vein 25 and provide full year guidance.'
At 9:12am: (LON:TSG) TransSiberian Gold PLC share price was 0p at 102.5p
Story provided by StockMarketWire.com
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