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Steppe Gold Limited (STPGF) is Mongolia's premier precious metals company, owning the ATO Gold Mine and 80% of the Uudam Khundii project. The company recently reached financing milestones for the Phase 2 Expansion at the ATO Gold Mine and secured a $150M financing package. With solid progress on the Phase 2 Expansion and recent gold prepay agreements, Steppe Gold is poised for significant growth, aiming to produce over 160,000 ounces of gold equivalent per annum by 2026.
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Steppe Gold (STPGF) announces strong financial results for 2023, with revenue of $54.2 million, operating income of $31.6 million, and adjusted EBITDA of $11.3 million. The company completed key acquisitions, secured financing, and is progressing well with the Phase 2 Expansion project. The outlook includes the potential acquisition of Boroo Gold and negotiations for the sale of the Tres Cruces Project.
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Steppe Gold (STPGF) announces the resignation of Aneel Waraich and Greg Wood, along with the issuance of common shares and cash payments to settle amounts owing. The company expresses gratitude for their contributions. The Settlement Transactions are related party transactions and were approved by the Board of Directors.
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Steppe Gold (STPGF) reaches financing milestone for Phase 2 Expansion at ATO Gold Mine, drawing down $40.4m from project finance package. The company has made significant progress with the EPC Contract, confirming total funding of $150m and commissioning planned for Q1 2026.
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Steppe Gold (STPGF) announces an amended gold prepay agreement with Triple Flag International , providing additional funds of US$5 million. The agreement includes five equal monthly deliveries of gold starting August 15, 2024. This agreement offers non-dilutive liquidity for Steppe Gold as it progresses with its acquisition of Boroo Gold.
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Steppe Gold Ltd. (STPGF) has entered into a binding term sheet to acquire all of the issued and outstanding common shares of Boroo Gold LLC in an all-share transaction, making it Mongolia's largest gold producer with an expected production of 160,000 oz per annum by 2026. The Proposed Transaction is expected to triple Steppe Gold's production over the next two years, providing increased financial strength and optionality for the Tres Cruces gold project in Peru.
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Steppe Gold Ltd. (STGO) has announced the signing of a turnkey engineering, procurement, and construction contract with Hexagon Build Engineering LLC for the Phase 2 Expansion at the ATO Gold Mine. The contract amount is approximately $148.4 million and is fully funded by a project finance package. The first concentrate production and sales from Phase 2 are anticipated in early 2026, with a fresh rock mine expansion life of 12 years. The project is expected to create approximately 300 new jobs and is fully supported by local communities and stakeholders.
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Steppe Gold Ltd. (STGO) has been invited to present at the Emerging Growth Conference on December 6, 2023. The live, interactive online event will allow shareholders and the investment community to interact with the Company's EVP and Director, Aneel Waraich, in real time. The presentation will take place at 02:55 PM Eastern time for 10 minutes.
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Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) announces financial results for Q3 2023, featuring $15,765 revenue, 7,920 gold ounces sold, and $8,906 operating income. The acquisition of Anacortes Mining Corp. was completed, and a $150,000 financing term sheet with Trade and Development Bank of Mongolia was signed. The Company is focused on accelerating the Phase 2 Expansion at the ATO Gold Mine and exploring renewable energy options.
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Steppe Gold Limited provides an operations update, announcing that the ATO Gold Mine production has surpassed 100,000 oz, with gross revenue of $188M and royalties and taxes paid to the Mongolian treasury of approximately $13M. The company plans to increase its annual production from approximately 30koz in 2023 and 2024 to over 100koz Au Eq from the end of 2025.
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Steppe Gold provides update on Phase 2 expansion
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FAQ
What is the current stock price of STEPPE GOLD (STPGF)?
The current stock price of STEPPE GOLD (STPGF) is $0.4218 as of December 23, 2024.
What is the market cap of STEPPE GOLD (STPGF)?
The market cap of STEPPE GOLD (STPGF) is approximately 109.9M.
What projects does Steppe Gold Limited own?
Steppe Gold owns the ATO Gold Mine and 80% of the Uudam Khundii project in Mongolia.
What is the company's production goal by 2026?
Steppe Gold aims to produce over 160,000 ounces of gold equivalent per annum by 2026.
What recent agreements has Steppe Gold entered into?
Steppe Gold recently entered into financing agreements for the Phase 2 Expansion at the ATO Gold Mine and gold prepay agreements.
What is Steppe Gold's focus in the near term?
Steppe Gold's focus includes maximizing production and cash flows, completing the Phase 2 Expansion, and planning for the acquisition of Boroo Gold.
How can shareholders stay informed about the company's operations?
Shareholders can access the company's financial results and updates on its website or through SEDAR+.
What are the non-IFRS measures used by Steppe Gold?
Steppe Gold uses Adjusted EBITDA, EBITDA, and AISC as non-IFRS measures to provide additional information to investors in measuring the company's financial performance.
What are the benefits of the Proposed Transaction for Steppe Gold?
The Proposed Transaction is expected to accelerate the company's growth, provide strong cash flow, and support future exploration activities and acquisitions.
When is the Meeting for Shareholders regarding the Proposed Transaction?
The Meeting is scheduled for the end of June 2024, where Shareholders will vote on the Transaction.
What is the focus of Steppe Gold post-closing of the Proposed Transaction?
Post-closing, Steppe Gold's focus will be on maximizing production, executing the Phase 2 Expansion, and integrating Boroo Gold into its operations.
Where can investors find more information about Steppe Gold?
Investors can access the company's website, SEDAR+, or contact the Chairman and CEO, Bataa Tumur-Ochir, or the Investor Relations Manager, Elisa Tagarvaa, for further information.
STEPPE GOLD LIMITED