Trans-Siberian Gold announces its audited financial results for the year ended 31 December 2018

MINEX Forum | June 5, 2019 | Views: 38 | Source: Trans-Siberian Gold plc

Financial Highlights:

  • Record-breaking revenues amounting to $59.8million, a 38% increase YoY (2017: $43.4million)
  • 72% increase YoY in EBITDA at $23.9million (2017: $13.9million)
  • Profit Before Tax of $17million (2017: $3.0million)
  • Proposed final dividend of $0.009cents per share (2017: $0.021) amounting to $1million in aggregate
  • Total dividend pay-out for the year of $7.7million (subject to final dividend approval at the AGM) (2017: $6.3million)

Operational Highlights:

  • Record annual production of gold in dore at 42,128oz. a 15% increase YoY (2017: 36,714 oz.)
  • 36% increase YoY in total gold production at refinery at 46,053 oz. (2017: 33,872 oz.)
  • Cost of sales per oz. of gold at $788 (2017: $885)
  • Cash cost per oz. gold sold at $516 (2017: $588)
  • All-in sustaining costs per oz. gold $1,049 (2017: $1,341)

Charles Ryan, Non-Executive Chairman of TSG, commented:

“I am delighted to report that 2018 was a year of record-breaking operational and financial performance, with TSG delivering double-digit growth in both gold production and EBITDA. Our total gold production exceeded 42koz, outperforming our production target for the year. We achieved this while further optimizing our operational efficiency and significantly reducing costs.

In 2018, we reaffirmed our position as a high grade, low cost producer with a strong track record as one of the most attractive yielding mining stocks on the London Stock Exchange.”

The Company confirms that copies of its Annual Report and Accounts have been sent to shareholders.

A copy of the Company’s Annual Report and Accounts will be available on the Company’s website: www.trans-siberiangold.com 

Contacts

TSG
Stewart Dickson
+44 (0) 7799 694195

Arden Partners plc
Paul Shackleton (Corporate Finance)
Tim Dainton / Fraser Marshall (Equity Sales)
+44 (0) 207 894 7000

Hudson Sandler (Financial PR)
Charlie Jack / Katerina Parker
+44 (0) 207 796 4133

About TSG

TSG is focused on low cost, high grade mining operations and stable gold production from its 100% owned Asacha Gold Mine in Far East Russia. The Group also holds the licence for the development and exploration of the Rodnikova deposit, one of the largest gold fields in South Kamchatka.

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