StockMarketWire.com - Russian gold producer Trans-Siberian Gold has received full permitting approvals to restart mining operations at Vein 25 in the East Zone of the Asacha Gold Mine following an accident and said it had continued to trade profitably throughout the period.

The company confirmed that all repairs at the site of the incident, announced on 6 January 2021, have been completed, and that mining operations have recommenced with immediate effect.

Trans-Siberian Gold said the Federal Service for Environmental, Technological and Nuclear Supervision is close to finalising its investigations into the accident, with the outcomes and recommendations expected by the end of March 2021.

The company reported that over the past two months, the main zone at the Asacha Gold Mine has remained fully operational and has provided sufficient feed ore for the processing plant to run at full capacity, with approximately 5,122 oz of gold dore produced.

It achieved a positive net cash position of approximately $2.7 million as at 1 March 2021 and expects average gold grades to 'significantly improve' now that Vein 25 is operational again.

Chief executive Alexander Dorogov said: 'We are pleased to have received approvals to safely resume mining operations at the Asacha Gold Mine. We continue to support the families affected by the accident, work closely with RTN and implement continuous improvements at our mine site.

'We have continued to trade profitably during this challenging period and are now pleased to recommence mining at Vein 25 in a safe and profitable manner.' At 9:09am: [LON:TSG] TransSiberian Gold PLC share price was 0p at 102.5p



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