Share Name Share Symbol Market Type Share ISIN Share Description
Trans-siberian Gold LSE:TSG London Ordinary Share GB0033756866 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50p -1.33% 37.00p 35.00p 39.00p 37.50p 37.00p 37.50p 71,157 11:19:26
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 29.9 4.5 2.8 11.8 40.18

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Date Time Title Posts
25/4/201707:24TSG With Charts and News340.00
28/11/201023:20Trans-Siberian Gold - the next Avocet Mining?820.00
28/9/200507:04Trans-Siberian Gold PLC has over $22 mil in the bank1.00
27/9/200510:23Trans-Siberian Gold PLC has over $22 mil in the bank-

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Trans Siberian Gold Daily Update: Trans-siberian Gold is listed in the Mining sector of the London Stock Exchange with ticker TSG. The last closing price for Trans Siberian Gold was 37.50p.
Trans-siberian Gold has a 4 week average price of 35.50p and a 12 week average price of 35.50p.
The 1 year high share price is 56p while the 1 year low share price is currently 31.50p.
There are currently 108,597,454 shares in issue and the average daily traded volume is 123,571 shares. The market capitalisation of Trans-siberian Gold is £40,181,057.98.
jimmywilson612: A helpful chap over at Stockopedia gave me this explanation: If you look at the company Cons Balance Sheet, Equity section, you will see: Share Capital 18,988 Share Premium 89,520 Retained Losses (27,589) ...all figures '000 USD There are 110,053,073 shares in issue of nominal value 10p. The share capital is the no of shares x nominal value (10p) = £11,005,307, which is the share capital above when converted to USD at the rate applicable when the share capital was created. The share premium represents what was actually paid into the company when the shares were created, in addition to the share capital. Retained losses are the accumulated losses since inception of the company. Normally, a company is not allowed to pay out to shareholders the Share Capital or Premium other than on winding up the company, so it has to generate a lot of profits to clear the accumulated losses before any dividends can be paid. However, if shareholders agree, the Premium can be paid back to shareholders with agreement of the Court. For practical purposes it makes no difference how this is classified, except that after the Court order it is available for distribution. The question is why would the company want to distribute it? I note that the company has been profitable in the latest year (Dec 2015), and is sitting on quite a lot of cash (12.6m USD, although debt (approx 17m) is higher than the cash pile - but not excessive!), so if it cannot use the cash to repay debt it would be a reason to reclassify and distribute it. How much could it be? Well, if the company has had another good year in 2016 (and the fact that it has applied to the Court now, and Stocko reported earnings forecast for 2016 is positive, suggest it will have a good year), I suggest that most of that cash pile could be distributed, which could be a dividend of around 9p which would equate to about 22% at a share price of 40p. That would likely only be a one off though. Just my thoughts and I hope this is helpful - apologies if my explanation of share capital above is teaching grandma to suck eggs.
muzerewa: The price of gold has been low, although recovering now somewhat. The company has had issues with respect to quality of ore, although it is still cash flow positive and paying off its debt. A recovery in gold price would ordinarily help the share price though of course this company's operations are in Russia which is not flavour of the moment, and indeed the Russian situation is one reason for the recent recovery in gold.
hybrasil: Why is this share price so low?
ali g2: Very good comments on "another forum":- Based on earnings, the market cap towards the end of next year becomes a very healthy $312m and a share price of 170p !!!! With the gold price speculated to be heading some say towards $2000 and beyond, TSG becomes an excellent buy ay today's price. but nobody seems to be looking at this on here
nobull: Hi Xiaonike, Given UFG's main reason at the last AGM to put extra UFG nominated directors on the Board and get rid of others was because the share price was too low, it is amazing if they think anyone is going to sell their shares to them at a price that is about 25% lower than at the time of AGM. Not sure why UFG isn't subject to the City Code on Takeovers and Mergers. Perhaps it is because we can't enforce it against non natives based overseas? A mandatory offer is required to all shareholders once 29.9% is exceeded, I thought, and the price offered must not be less than the lowest price paid in the last 12 months, but perhaps there are no sanctions available to the Takeover Panel when the City Code violator is based overseas?
nobull: No idea. Whenever I have phoned them they have behaved how you would expect (totally above board). Everybody knows they will run out of money soon, so a financing announcement is something they cannot delay much longer, and that, IMV, is probably what will really get this share price moving. Yes, the Rodnikova drill results are long overdue, and I suppose, as it is a satellite deposit, Rodnikova just adds to the life of mine without incurring any further significant capex, so if the drill results are good they should send the share price up a decent amount. It remains to be seen if they release the drill results first to cut the dilution on any financing. Long 55k.
nobull: Hi xiaonike, Sorry, my password for posting on TMF is in an email on a hard disk I dropped. (I'll retrieve the data one day, hopefully). I spoke to a lady who guessed my beef straight away. She said she HOPED the drill results would be good to get the share price up. (I hadn't mentioned anything about the share price - well, not on this occasion!). January was the suggested date for the drill results because they are closed over Xmas, and that was based on conversations she had overheard. On funding she descended into polite "I don't want to discuss this" mode. So I guess we will have heard by April whether we are a going concern or not. I didn't ask about anything else. (There isn't anything else of significance to ask about?). Of course other companies give more frequent operational updates, but this company probably needs to save money on shareholder communication. Continuing to hold my 55k despite the presumed worsening conditions for funding since the start of the credit crunch.
saucepan: Just to clarify: the TSG share price did not fall off a cliff in the second half of 2003. This is when it came to market. Another company used the EPIC TSG before this date. Sadly, it has fallen off a cliff just now! I am almost tempted to buy back in but am not convinced the worst is over.
brink: Here is the story from Business Day( They seem to have reposted it on 15 August, but it is still very slow loading, so I've pasted it in: Posted to the web on: 15 August 2005 Where now for singularly successful Russian gold miner? Stephen Clayson - LONDON - Peter Hambro Mining has made the transition over the last few years or so from a hopeful small timer to a bona fide first rung gold producer in one of the world's more challenging operating environments. Moreover, so far this year the company has markedly outperformed its London listed peer group in terms of fund raising and share price growth. A key question for PHM now should be how to best capitalise on and perpetuate its financial and operational success. The company's high level of achievement has been based upon a number of factors, but chief among them have probably been a substantial Russian involvement in the company in terms of management and ownership and its eponymous founder's affinity with the financial community. The fact that the company is fortunate enough to have as an investor the International Finance Corporation, id est the World Bank, with all the political kudos that this provides bears witness to the latter. PHM's uncommon progress has enabled it to buck the 2005 trend amongst its immediate peer group of Russia focused junior-to-middling gold mining outfits for relatively flaccid share prices, the latter occurring largely as a result of earlier overexcitement followed by underperformance relative to expectations. In contrast, PHM is riding high in the market at a share price of just over 650p, not too far short of its lifetime best value of almost 690p. This might make it tempting for the company to take advantage of its strong market valuation and acquire another less generously valued competitor in order to secure a hike in scale and to apply to another, less successful group's Russian gold assets the operational formula that seems to have brought it such prodigious attainment with its own. An acquisition of or full blown merger with a fellow AIM listed Russia focused gold miner would seem to be the simplest and most sensible accretive transaction for PHM to undertake, Russia being where the company has established its corporate and operational infrastructure, co-utilisation of which now and in the future would be important to facilitate synergies, and where it has gathered the entirety of its valuable operational expertise. Of this cohort there are a number of candidates for the implementation of such a strategy. Trans Siberian Gold and Highland Gold have both been taking a hammering share price wise thanks to less than impressive business performance, and each could make an interesting target for a boldly acquisitive PHM. Highland's share price in particular is depressed, having receded to all time lows of late thanks to operational woes, the most recent instalment of which has seen a significant reserve downgrade of the company's prime Teseevskoye deposit. TSG too is in rocky shape, hovering just above its own weakest ever share price. Shareholders in both Highland and TSG might find it difficult to resist an offer from PHM, the latter perhaps wielding a combination of its own highly valued equity and some cash from its relatively flush treasury. Highland and TSG would both be reasonably good fits for PHM, being entirely focused on Russia without the complications posed by having assets in FSU satellites, and looking direly in need of the reinvigoration that new ownership might bring. Though both are loosely partnered with major gold mining players, Highland with Barrick Gold and TSG with Anglo Gold Ashanti, either large firm might welcome the chance to team up with PHM, with its rosy operational record, in order to secure profitable, indirect exposure to Russia without the risks of direct involvement, or else might simply welcome a chance to sell out of their thus far ill fated stakes in Highland and TSG. Even if a merger or acquisition does not occur though, PHM has substantial expansion plans of its own that could drive its share price further upward in the future. The company is targeting a 2005 production figure of 271,000oz from its operations, up from 209,000oz last year, with 1moz being its goal by 2009. The former is intended to be derived through increased output from PHM's two currently producing assets, the Pokrovskiy mine and the Omchak Joint Venture, and the latter through the addition of extra production from other latent assets. Foremost amongst these is the company's Pioneer deposit, which now boasts a JORC compliant gold resource of 2.2moz across the measured, indicated and inferred categories within a 10.2moz total when Soviet P1 and P2 type mineralisation is included. Possibly significantly, PHM's geological conception of this deposit has now improved to incorporate a larger amount of higher grade material within the central portion of the ore body, which remains open ended. In order to fund in substantial part its ambitions, PHM recently took advantage of its high market standing by completing a 2010 maturity convertible bond issue amounting to $140m. While this will likely lead to significant dilution of existing equity over time, if the company uses the proceeds wisely then the potential value added should more than offset this. Notably too, given the rising cost structures that are afflicting some mining operations as a result of global inflationary pressures on factors, is that PHM has so far been able to constrain costs at its primary mining operation, Pokrovskiy, to a level similar to those incurred last year, of around $130/oz. Though this does not guarantee that the company will be able to maintain this performance, it certainly augurs well. In summation, the salient point for investors is that PHM has consistently been able to outperform its peers in terms of developmental progress and consequent profitability, and may have established a sustainable mode of work that will allow it to continue to do so. If the company also chooses to seize the opportunity for inorganic growth presented by its current high level of prestige in the market, then this could improve its valuation even more so.
saucepan: Some promised further thoughts: What precipitated the mini-collapse in the share price was a project update (23rd December) that confirmed the DELAY (only) of the due diligence process which will provide project finance for Asacha. Many of the financial assumptions behind the original bankable feasibility study of February 2004 were no longer accurate. In particular, according to the 23/12 update: "Recent increases in the cost of fuel, steel and labour in Russia, and higher international freight costs, combined with the strengthening of the rouble, especially against the US dollar, are expected to lead to a material rise in the capital cost of the project above the estimate of the bankable feasibility study completed in February 2004". These are unfortunate developments, of course, and they are what the market reacted badly to. But it is worth stressing that they are completely beyond the control of management – so no blame should be attached in that quarter. I can also accept Jocelyn Waller's explanation (see post 337 above) that the timing of the announcement was entirely precipitated by the expiry of the 31 December deadline, and that it was not a cynical attempt to bury bad news in the Christmas period. But, the bottom line question, of course, is "does all of this now mean that Asacha is no longer viable"? In my view, the answer is clearly "no", from what else has been said. Firstly, as the 23/12 statement itself went on to confirm: "These increases are to some extent mitigated by the higher gold price." But what else do we have that is positive to go on? Well, quite a lot, in fact. And, what I think is so important, because of the Christmas period, and the fact that so many in the City were "watching the cricket or on the beach", the PRIVATE investor (thanks to OldAsiaHand sharing some key intelligence!) has a first mover advantage over the City. Here are some of the highlights for me: TSG has "negotiated the extension in a manner that is quite favourable for TSG, particularly as the second subscription is not now tied to the completion of financing for the Asacha project". AGA have publicly stated that "we remain committed to our investment in TSG". While TSG is not "absolutely certain" of the final cost, it has "a pretty good idea", and is confident "the cost can be contained to a manageable and acceptable number" – an assessment not revealed in the 23/12 statement. So there was perhaps more doubt in the market than there needed to be. Asacha has made "a lot of progress" (see post 337 above for elaborated detail). "Work is continuing so as not to delay the project schedule". (Ibid). The detailed review is "in hand"; final numbers will be known by 31 January. This means that a long period of doubt is not likely to be hanging over the TSG share price. In fact, quite the contrary. It seems most improbable that things will not be resolved satisfactorily. An announcement of the good news can be expected to give a major boost to the share price. We can be confident that this news will be confirmed soon: TSG is likely to have something concrete to say on Asacha in "early February". What is also of vital importance (and what the City may not have yet woken up to) is the following: "Our attitude to Asacha is also conditioned by the belief that the resource will in the end be considerably bigger. THIS IS A VIEW SHARED BY AGA" (My emphasis). TSG would surely not be making such statements, at this stage, unless it was absolutely convinced it will soon be able to provide the numerical confirmation. Indeed, Waller's statement goes on to say: "We are finally drilling at Asacha (notwithstanding the Kamchatka winter) and although no assays are yet to hand the visual results so far give grounds for belief that we are right to be optimistic about this. More reserves and a better gold price do wonders for the project's economics." I think they will also soon do wonders for the share price! I have not added anything new by the above selective quotations, but the exercise has certainly helped me personally to clarify my own assessment of the situation, and helped me to decide that a great buying opportunity has been presented – especially before the City fully wakes up after the New Year and does its own further reappraisal. Of course, I may be wrong. Others should make up their own mind and not be influenced by me. However, if this post, as a result of highlighting key pieces of information, is of any assistance in helping anyone to come to their own objective assessment of the situation I shall be very pleased. It would also be good if it provoked someone to present a more bearish interpretation: Let's all make further investment decisions taking into consideration as many different perspectives as possible.
Trans Siberian Gold share price data is direct from the London Stock Exchange
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