- Russia-focused Trans-Siberian Gold said a recent rise in gold prices due to the impact of Covid-19 on markets would have a positive impact on the company's performance.

It also said its supply chains continued to be unaffected by Covid-19 and its operations were running as normal.

'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 said.

'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.'

At 8:54am: [LON:TSG] TransSiberian Gold PLC share price was +8.5p at 53.5p

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