The resources company, with a focus on gold-mining assets in
The company said its cost of sales increased to
Trans-Siberian said its gold production increased 7.5% to 29,670 ounces and its silver production increased 11% to 39,026 ounces as its Asacha plant underwent a range of technical improvements to help deal with high dilution problems which have been associated with the site since 2012.
Offsetting the production increases, the company said the average price it received for gold fell to
The company said in January that dilution continued to affect the grade of ore delivered to the plant, although previously reported measures to reduce dilution, including changes to mine development and stoping methods, were expected to lead to significantly higher grades in 2014.
Mining dilution is when non-ore rock is removed, by necessity, along with the ore in the mining process, subsequently lowering the grade of the ore.
In April, the company reported an increase in gold and silver production at its Asacha mine for the first quarter. It said gold production increased to 7,431 ounces in the period, up from 6,826 ounces a year earlier, while silver in dore increased to 11,033 ounces, compared with 8,791 ounces the prior year.
A dore bar is a semi-pure alloy of gold and silver, usually created at the site of a mine, which is then transported to a refinery for further purification.
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