Trans-Siberian Gold granted six-year extension to Asacha licence

Miner Trans-Siberian Gold has been granted another extension to its existing mining licence in far east Russia by the Russian State Subsoil Agency.

Russia's Rosendra approved Trans-Siberian's request for a six-year extension to its licence at the Asacha gold mine in Kamchatka, meaning the mining licence will now expire on 31 December 2024.

The AIM-listed company added that its production guidance of 36,000-40,000 ounces for 2018 remained unchanged.

Dmitry Khilov, Trans-Siberian's chief executive officer, said, "This is a significant milestone for TSG. This is another successful extension of the mining licence at the Asacha Gold Mine."

"We have a new leadership team in Kamchatka and look forward to them achieving further operational efficiencies and improvements," Khilov added.

As of 0900 BST, TSG shares were unmoved on 34.50p.