Trans-Siberian Gold posts huge losses September 27, 2012 - 16:16 AMT PanARMENIAN.Net - Trans-Siberian Gold plc, a UK-based resources company developing gold mining assets in Russia, saw its six-month losses more than triple year-on-year to $3.9 million, the company said on Thursday, Sept 27, according to RIA Novosti. “The results for the six months to 30 June 2012 were affected by operational difficulties at the Asacha mine, principally the lower than expected grade of ore delivered to the plant,” the company said in a statement. Revenue from the sale of 12,708 oz. of refined gold and 15,372 oz. of refined silver was $21.0 million and $456,000 respectively. Average realized prices were $1,651 per oz. gold and $30 per oz. silver. Cost of sales per oz. gold was $1,663. Cash cost per oz. gold was $651 during the reporting period. TSG's activities are focused on the Kamchatka peninsula in the Russian Far East, where its Asacha and Rodnikova properties contain approximately 900,000 oz of gold and about 4 million oz of silver in total mineral resources calculated to JORC standards.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news The Power of One Dram to benefit Road of Life charity  The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization.Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia.Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |
