Trans-Siberian Gold reports highest gold grade in three years

Russia-focused miner Trans-Siberian Gold saw its shares jump by a third after the company revealed that its latest round of mining had resulted in the highest average quarterly grade of gold processed in the last three years.

The 8.28g per tonne grade was achieved at its Asacha mine during the third quarter, when production comprised 7,784 ounces of refined gold and 9,121 ounces of refined silver.

The average gold grade at the mine in the year-to-date was 7.32g, up from 6.54g in the same period a year earlier, while the gold recovery rate climbed from 94% to 95%.

Shares in the company had risen 33.33% to 13p by 13:41.