High-grade gold producer Trans-Siberian Gold on Thursday reported record revenue of $30-million for the first half of 2019, up 8.7% on the same period a year earlier.
The miner, which operates in Russia, posted profit before tax of $8.5-million, a 169.7% year-on-year improvement.
Gold dore production increased to 21 889 oz, up 26.1% year-on-year, while refined gold production increased to 23 155 oz, up 11.9%. All-in sustaining costs fell by 38% year-on-year to $850/oz.
Trans-Siberian operated an average gold grade of 8.6 g/t in the first half of the year.
The company is targeting production of 40 000 oz to 44 000 oz for the full year.