StockMarketWire.com - Trans-Siberian Gold said it expected to beat its annual production guidance after mineral grades improved in the fourth quarter.

The company said it expected to 'slightly exceed' the upper end of its 36,000 - 40,000 ounce production target for 2018.

A production update for the fourth quarter would be provided in January 2019.

Trans-Siberian also announced that it had entered into a new electricity supply agreement with Kamchatskenergo for its Asacha Gold mine in Russia at a reduced price of RUR 4.69/kWh (US$0.07/kWh).

The agreement was for an initial period of 12 months.

'We are making continuous improvements at the Asacha Gold Mine which are delivering real results,' chief executive Alexander Dorogov said.

'Power is a significant production cost and we are pleased to have secured a substantial cost saving with the support of the regional Government of Kamchatka.'

'We are grateful for this which affirms the Far East of Russia as an attractive place for gold mining.'


At 9:16am: [LON:TSG] TransSiberian Gold PLC share price was +3p at 37.5p



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