Trans-Siberian Gold PLC Interim Results - EBITDA Correction (7779Q)

TIDMTSG

RNS Number : 7779Q

Trans-Siberian Gold PLC

02 March 2021

2 March 2021

Trans-Siberian Gold plc

("TSG", the "Company" or the "Group")

Interim Results - EBITDA Correction

Trans-Siberian Gold plc (TSG.LN), a low cost, high grade gold producer in Russia, announces that the unaudited Interim Results for the 6 months to 30 June 2020 published on 29 September 2020 (the "2020 Interim Results") incorrectly stated EBITDA as $13.3m and Adjusted EBITDA as $15.4m.

Upon further internal review, it has been identified that due to exceptional expenses being deducted twice, the EBITDA figures were erroneously reported. The correct figures are EBITDA of $11.3m and Adjusted EBITDA of $13.4m. This error is standalone and all other details in the 2020 Interim Results remain unchanged.

Both EBITDA and Adjusted EBITDA are Non-IFRS measures commonly used to assess the Company's performance. Definitions of EBITDA and Adjusted EBITDA are set out in the Company's financial statements.

ENDS

 
 Contacts: 
 TSG 
  Stewart Dickson                                  [phone] 
 Canaccord Genuity Limited 
  (Nominated Adviser & Joint Corporate Broker) 
  Henry Fitzgerald-O'Connor / James Asensio       [phone] 
 Panmure Gordon (UK) Limited 
  (Joint Corporate Broker) 
  John Prior / Hugh Rich / Ailsa MacMaster        [phone] 
 Hudson Sandler 
  (Financial Public Relations) 
  Charlie Jack / Katerina Parker / Elfie 
  Kent                                            [phone] 
 

About TSG

TSG is focused on low cost, high grade mining operations and stable gold production from its 100% owned Asacha Gold Mine in Far East Russia. The Company also holds the licence for the development and exploration of the Rodnikova deposit, one of the largest gold fields in South Kamchatka.

Additional information is available from the Company's website: www.trans-siberiangold.com

Market Abuse Regulations

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Disclaimer

This announcement contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets, fluctuations in interest and/or exchange rates and metal prices; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements.

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March 02, 2021 02:00 ET (07:00 GMT)