COO
Trans-Siberian Gold
Mr. Antonov has more than 20 years of experience in the mining industry, mainly in managerial positions with responsibility for mine site operations and finance. In his previous appointments, he has established a track record of leading change, financial management and harnessing technology to drive operational efficiencies. Most recently he was an integral part of the leadership team at the Kupol Mine in Far East Russia which generated the largest annual cash flow and achieved the lowest operating cost across Kinross Gold Corporation (“Kinross”). Prior to joining TSGM, Mr. Antonov spent 11 years at Kinross where latterly he was a Director of Commercial and Supply Chain Management Operations. He was responsible for directing the implementation of policies and procedures for adherence to Kinross’s and regulatory standards incorporating CSR, HR, life of mine plans, strategic business plans and annual budgets as well as the coordination of in-country logistical, operational and informational requirements. Between 1999 and 2007, he was employed at Bema Gold Corporation in Canada in various executive finance roles, including Director of Finance, until its acquisition by Kinross. His previous experience includes managerial positions at Teck in Canada. Mr. Antonov, is a graduate of Pace University in New York and holds a MBA awarded by the Rotman School of Management in Toronto. Mr Antonov is also a member of the Chartered Professional Accountants in Canada.
Rebirth of Asacha mine
During the operation of the Asacha field in Kamchatka, which began in 2011, by TSG Asacha (a subsidiary of Trans-Siberian Gold plc), by 2018 the bulk of the proven reserves had been worked out. Geological exploration programs carried out earlier for several years have not yielded significant results. As of 01.01.2020, active reserves were only 4.4 tons of gold, and the life of the mine was limited to only 3-4 years.
In 2018, the management of the company was replaced, and the development strategy of the mine was radically changed. A number of measures were taken to optimise production and expand the enterprise's Mineral Reserves. An exploration department was created, staffed by experienced geologists, with the participation of a well-known Canadian specialist in epithermal gold-silver deposits. The necessity of a detailed study of the epithermal veins of the Eastern zone, primarily veins 25, was substantiated, and about 77 thousand m of wells were drilled. As a result, a new ore body 25N was identified and explored. GKZ Minutes No. 6683 dated 09.06.2021 approved an increase in reserves in the C2 category: 7.8 tons of gold and 35.9 tons of silver.
According to an independent audit by SRK-consulting, the increase in resources on the 25N ore body amounted to 9,100 kg of gold, mainly Indicated Resources. This ore zone alone extended the mine life by more than six years. The increase in resources was obtained in other areas as well.
The company's capitalisation has grown more than 3 times since 2018, from $ 45 million to $ 150 million.