18:00 Fri 20 Mar 2020
Trans-Siberian Gold - Company & Operations Update
("TSG", the "Company" or the "Group")
Company & Operations Update
We are proud to be a significant employer in the Kamchatka region of the Far East of
The Company's supply chains remain unaffected and our operations continue to run as normal. Our
Current events have resulted in material changes to commodity prices and foreign exchange rates, which are expected to impact positively on the overall profitability of the Group. The Company's dollar-denominated revenue from gold sales remains strong in a supportive gold price environment. The recent oil price decline is expected to considerably reduce the Group's energy costs, and the connected devaluation of the Russian rouble is equally anticipated to contribute to overall cost improvement, as the majority of the Group's operational costs are rouble-denominated.
The Group is progressing well with its previously stated priorities for 2020. Underground and surface drilling campaigns at the Main and East zones of the
TSG expects to report production results from the
ENDS
Contacts: |
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TSG |
+44 (0) 7799 694195 |
Arden Partners plc
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+44 (0) 207 614 5900 |
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+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
Additional information is available from the Company's website: www.trans-siberiangold.com
Market Abuse Regulations
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via
Disclaimer
This announcement contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets, fluctuations in interest and/or exchange rates and metal prices; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements.
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