Trans-Siberian Gold plc Announces Audited Consolidated Earnings and Operating Results for the Year Ended December 31, 2017; Provides Operating Guidance for the Year 2018
For the year, the company produced 33,872 oz. of refined gold (2016: 35,366 oz.) at a cash cost of $588/oz. (2016: $417/oz.). The average realised gold price increased by 1% to $1,260/oz., compared to $1,248/oz. in 2016. Production of gold in dore increased by 1.3% to 36,714 oz. (2016: 36,225 oz.), silver in dore increased by 4.5% to 57,072 oz. (2016: 54,595 oz).
The Company expects to achieve 2018 refined gold production in the range 36,000-40,000 oz. (2017: 33,872 oz.). Gold production is expected to improve from June 2018 onwards, with mining commencing in the richer parts of blocks 40, 44 and other blocks located at level 100m, and from August 2018, when the first stage of the pumping station at level 100m is in operation.