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Trans-Siberian Gold edges past guidance on record Q4 production
In the three months leading to 31 December, miner Trans-Siberian Gold produced 12,244 ounces of gold to lift annual production just ahead of guidance.
AIM-quoted Trans-Siberian's 33.3% increase in gold production from the quarter pushed full-year production to 36,714 ounces, besting the previous year's total of 36,225 ounces at the same time as grade quality jumped 16.2% to 8.6 grams per tonne (g/t).
The Cambridgeshire-based firm extracted 55,992 tonnes of ore over the quarter, a 15.1% year-on-year improvement.
Trans-Siberian estimated that gold sales for the full-year would amount to roughly $42.7m.
Dmitry Khilov, chief executive officer, said, "Having faced a few operational challenges during the year I am pleased that we have slightly exceeded our production guidance. We are continuing to work hard at the Asacha Gold Mine to efficiently mine this high-grade ore body."
By mid afternoon on Friday, TSG shares lost their early gains to fall 3.2% to 45.01p.