LSE-listed Russian miner Trans-Siberian Gold (TSG) has achieved quarterly and yearly gold production records at its Asacha gold mine, producing 13 069 oz in the December quarter, taking full-year output to 42 128 oz.
The company indicated that its gold production would be between 40 000 oz and 44 000 oz in 2019.
“The success of the ongoing improvement measures that have been implemented by our operational team in Kamchatka gives us a strong basis for higher levels of gold production and value creation in 2019,” TSG CEO Alexander Dorogov noted in a statement on Tuesday.
The fourth-quarter output was an 11% quarter-on-quarter improvement and a 6.7% year-on-year improvement. The gold grade improved to 9.1 g/t in the fourth quarter and gold sold increased by 80% quarter-on-quarter to 16 399 oz.
For 2018, it also recorded an 11.9% increase in gold grade, from 6.6 g/t to 7.4 g/t, 35.7% increase in gold sold to 45 956 oz and a 37.6% increase in total estimated revenue to $59.8-million.