Trans-Siberian Gold Says 2017 Gold Production Will Be Above Guidance

23rd Mar 2018 10:40

LONDON (Alliance News) - Trans-Siberian Gold PLC said Friday that 2017 gold production is set to beat management guidance and production in the new year is anticipated to be in the range of 36,000 ounces to 40,000 ounces.

Gold production for 2017 is expected to exceed production guidance of 36,714 ounces and will be higher than 36,225 ounces the year before.

Revenue for the year is expected to be USD43.5 million, up from USD42.2 million in 2016. However, pretax profit for the year is forecast to be lower than the USD8.7 million reported the year before.

The company also said that it expects to increase the average gold head grade by 26% to 8.3 grams per tonne from 6.6 grams per tonne in 2018.

Trans-Siberian Gold is scheduled to report gold production for the first quarter of 2018 in April, and 2017 results in May.

Shares in Trans-Siberian Gold were down 4.8% at 39.05 pence on Friday.

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