Trans-Siberian Gold’s losses widen

Trans-Siberian Gold, the Russian miner listed on London’s junior stock market, yesterday said its pre-tax loss had widened to $16.5m last year from $3.4m in 2012, reflecting lower metal prices and a one-off stock inventory impairment. But gold and silver output rose 7.5 per cent and 11.1 per cent respectively. “The main operational issue during the year continued to be high dilution in the mine, reducing the grade of ore delivered to the plant,” said the firm.