StockMarketWire.com - Russia focused Trans-Siberian Gold forecast a fall in annual production as it pressed ahead with a drilling campaign to expand resources at its Asacha mine.

Output for the 2020 calendar year was expected at between 38,000 and 42,000 ounces, compared to the 43,479 ounces produced in 2019.

'Following a record year of operational performance and revenues, we are extremely well placed to push forward with our drilling campaign focused on expanding the mineral resource at our flagship asset; the Asacha gold mine,' chief executive Alexander Dorogov said.

'We plan to commence mining in the east zone of the mine this year and as a result maintain stable gold production and cost performance.'

'We look forward to continuing to invest in our operations and adding value for all our stakeholders.'

'The company reiterates its firm commitment to continue returning capital to its shareholders through dividends in the coming year.'


At 9:26am: [LON:TSG] TransSiberian Gold PLC share price was 0p at 49.5p



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