- Trans-Siberian Gold has improved its FY pretax profit to $8.7m, up from $6.6m. Revenue was also up, at $45.2m, from $44.1m.

It confirmed refined gold output of 35,366 oz, versus 37,984 oz. Cash cost was $426/oz, from $473/oz. Average realised price was $1248/oz, from $1146/oz.

"I am satisfied by our financial performance in 2016," said non-executive chair Charles Ryan in a statement.

"We remain cash-generative and financially robust at a time when the gold industry is re-shaping. We will continue to seek efficiencies and enhance our financial performance wherever practicable. In particular, I am very pleased that we paid our maiden dividend of $5.5m.

"We emphasise our commitment to deliver returns for shareholders. We are confident that we have an attractive investment case and are re-doubling our efforts to communicate with the investment community.

"As a low-yield investment environment persists, we believe that the Company's commitment to an attractive and stable dividend pay-out policy should increase interest in the Company's shares and the Company more widely."

At 9:09am: [LON:TSG] TransSiberian Gold PLC share price was +1.5p at 38p

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