StockMarketWire.com - Russia-focused gold miner Trans-Siberian Gold said its annual profit more than doubled after higher prices for the precious metal and improved production volumes boosted its revenue.

Pre-tax profit for the year through December jumped to $28.0 million, up from $12.6 million year-on-year, as revenue rose 28% to $81.0 million.

Gold dore output grew 3.7% to a record 45,066 ounces.

Trans-Siberian in March announced that it had agreed to be acquired by Horvik.


Story provided by StockMarketWire.com