30th Jun 2014 11:23
LONDON (Alliance News) - Trans-Siberian Gold PLC Monday said it had refined higher levels of gold and silver at its Asacha mine in Russia in the year-to-date compared to the period January to May in the year before, in a statement ahead of the company's annual general meeting.
The company refined 11,980 ounces of gold in the year to date, compared to 11,159 ounces between January and May last year. It refined 17,009 ounces of silver, up from 14,216 in the previous year.
Trans-Siberian said that mine development in April and May had comprised of 608 metres, whilst ore extraction amounted to 32,860 metric tonnes.
The company said it had processed an average of 12,816 metric tonnes per month at the mine during the first five months.
Trans-Siberian saw an improved average gold grade of 7.08 grammes per tonne, compared to 6.41 grammes, and an average silver grade of 12.17 grammes per tonne compared to 10.37 in the previous year.
Ore processed during the year to date was 64,078 metric tonnes, compared to 59,286 metric tonnes.
Trans-Siberian will report the full second quarter gold production from Asacha in July.
Shares in Trans-Siberian were trading up 7.8% at 13.20 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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