20th Oct 2014 08:24
LONDON (Alliance News) - Trans-Siberian Gold PLC on Monday said its refined gold and silver production fell in the third quarter against the second, while its gold recovery rate increased but its silver rate fell, but its shares rose as production remained ahead in the year to date.
The company said third quarter production at the Asacha plant was 7,787 ounces of refined gold and 9,121 ounces of refined silver. This compares to gold production of 10,285 ounces in the second quarter and silver production of 13,441 ounces.
But production for the group in the year to date is ahead for both gold and silver, with gold production at 24,126 ounces in the year to the end of September, from 21,256 ounces a year earlier, with silver production up to 31,347 ounces from 26,182 ounces.
The gold recovery rate for the quarter was 95.8%, slightly ahead of the 95% recovery rate in the second quarter, but its silver recovery rate was down to 65.5% from 71.5% in the second quarter.
Trans-Siberian shares were up 7.7% on Monday to 10.5 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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