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Steppe Gold Ltd is now a low-cost, multi-asset gold producer and one of Mongolia's fastest-growing precious metals companies.

Steppe Gold is a multi-asset, low cost, gold producer and one of Mongolia's fastest growing and leading precious metals companies.

We have achieved significant milestone in 2024, including the successful acquisition of Boroo Gold - Mongolia's largest gold producer.

Find out more from Steppe Gold's Chairman and CEO Bataa Tumur-Ochir's message.

Steppe Gold Ltd (TSX:STGO, OTCQX:STPGF) senior vice president and chief financial officer Jeremy South joins Proactive’s Tylah Tully to discuss the company’s progress in integrating Boroo (borrow) Gold following the completion of its acquisition in August 2024.

The Mongolia-based miner announced a combined production of 17,773 ounces of gold from its two operating mines in the third quarter of 2024.

The company reaffirmed its guidance for the second half of 2024, expecting production to reach the higher end of its forecasted range of 30,000 to 35,000 ounces, with a specific target of 33,360 ounces.
Steppe Gold has also maintained its 2025 production guidance of 80,000 ounces of gold.

The company also highlighted operational efficiencies, stating that its integration teams have identified cost savings through bulk purchasing and optimisation of operations by sharing best practices.

It has secured better terms for consumables and equipment and is advancing its ATO Phase 2 Expansion by acquiring necessary long-lead items.

Steppe Gold noted the complementary skills of its combined teams as a key factor for improved performance and operational efficiency.

The company continues to focus on resource expansion near its existing mines, with plans to restart exploration at the Uudam Khundii site, and is evaluating additional mergers and acquisitions as part of its long-term growth strategy.

The Steppe team had a great time at the Mongolian Mining Week x MinePro 2024 conference and exhibition! We were pleased to welcome many visitors to our booth and were especially honored by the visit of the Prime Minister Oyun-Erdene Luvsannamsrai.

Steppe Gold is Mongolia’s leading gold producer with a proven track record of low-cost production, social responsibility, and environmental stewardship. We are building, expanding, and growing for better opportunities and a brighter future.

Check out this message from Steppe Gold’s Chairman and CEO, Bataa Tumur-Ochir!

Steppe Gold is Mongolia’s leading gold producer with a proven track record of low-cost production, social responsibility, and environmental stewardship.

We are building, expanding, and growing for better opportunities and a brighter future.

Steppe Gold Ltd (TSX:STGO, OTCQX:STPGF) chief financial officer Jeremy South tells Proactive's Stephen Gunnion that the acquisition of Boree Gold in Mongolia marks a significant milestone in their journey to becoming a major gold producer in the region.

South highlighted the immediate accretive cash flow impact, noting that combined mine production is expected to reach 80,000 to 90,000 ounces annually, with projections of 140,000 to 150,000 ounces by 2026.

"It's very exciting times for us, you know, to have the deal closed and be able to have those two cash-flowing assets and a very exciting expansion underway at our ATO Project," South mentioned.
He further detailed the financial structuring, emphasizing the opportunity to reduce costs and leverage the gold price more effectively.

With $150 million in project financing in place, South discussed plans to enhance exploration both organically and inorganically, focusing on satellite deposits and significant upside at the ATO project.

Finally, South addressed future goals, including executing on ATO Phase 2, increasing production, and pursuing M&A opportunities to achieve 5 million ounces of reserves within the next couple of years. "This acquisition is really about three things: it's about cash flow, a better reserve position, and exploration upside," he stated.

The Assay TV meets with Bataa Tumur-Ochir, chairman and CEO of Steppe Gold (TSX: STGO), Mongolia’s premier precious metals company. The company recently announced that its shareholders approved the Boroo Gold acquisition with 99% support.

Bataa explains that the deal positions Steppe Gold to become a major force in the fast-growing Mongolian gold sector. Upon completion of the transaction, the company will be a multi-asset producer with robust cash flow, exciting exploration prospects, and a team of talented professionals poised to propel growth.

Importantly, the transaction increases optionality for the financing for the ATO Gold Mine Phase 2 expansion and potential future acquisitions throughout Mongolia.

Website: steppegold.com
Primary ticker: TSX:STGO, OTCQX:STPGF
Stage of development: Exploration, Development, Production
Commodity: Gold
Project to promote: ATO Gold Mine
Project location: Mongolia

Over the past ten months, Steppe Gold has made significant progress in the growth plan.

Bataa Tumur-Ochir, Chairman and CEO, addresses key highlights and milestones of the past several months, outlining our vision and future goals in this video.

With the Boroo Gold acquisition, Steppe Gold is expected to have annual production of 150Koz AuEq starting from 2026 as ATO Phase 2 Expansion comes online.

00:00 About Steppe Gold
00:54 About ATO Gold Mine Phase 2 Expansion
01:56 About Boroo Gold Acquisition
03:04 Why invest in Steppe Gold now?

Steppe Gold Chief Financial Officer Jeremy South joined Steve Darling from Proactive to share news about the company's plan to hold a shareholder vote on June 24th regarding the proposed acquisition of BG.

South highlighted the strategic benefits of the acquisition, including an increase in combined gold production to 90,000 ounces per annum by 2025 and 150,000 ounces of gold equivalent per annum by 2026. The transaction is expected to generate strong cash flow, enhance financial strength to support the ATO Gold Mine Phase 2 Expansion debt and project financing, fund exploration programs, and provide opportunities for further acquisitions in Mongolia. Additionally, the sale of the Tres Cruces Project will enhance liquidity and position Steppe Gold as a multi-asset producer with a focus on Mongolia.

Steppe Gold is merging with Boroo Gold. Upon completion of the transaction, the Company will become a multi-asset, Mongolia-focused mid-tier precious metals producer, focusing on cash flow generation and executing ATO Phase 2 Expansion.

Check out the Northern Miner’s interview with Jeremy South, SVP and CFO of Steppe Gold!

Steppe Gold Chief Financial Officer Jeremy South joined Steve Darling from Proactive to unveil a significant development in the company's growth trajectory. Steppe Gold has initiated a transformative share exchange agreement aimed at acquiring all of the issued and outstanding common shares of Boroo Gold, a strategic move poised to establish Steppe Gold as Mongolia's premier gold producer.

In tandem with this acquisition, Steppe Gold has also finalized separate definitive share purchase agreements, paving the way for the sale of the Tres Cruces Oxide Project to Boroo Singapore for approximately 12 million Canadian dollars, to be disbursed over the course of the next 18 months.

South emphasized that this strategic maneuver not only accelerates Steppe Gold's journey towards becoming a multi-asset mining group focused on Mongolia but also fortifies its financial position with robust cash flow, buoyed by the recent upsurge in gold prices.

With this transaction nearing completion, Steppe Gold anticipates closing out 2024 with a run rate of approximately 90,000 ounces in gold production, with projections soaring to over 150,000 ounces by 2026 on a pro forma basis.

Furthermore, South disclosed to Proactive that Boroo Gold anticipates a significant uptick in gold production from 2024 to 2031, with projected average annual production hovering around 60,000 ounces in 2024, 2025, and 2026. This augurs well for Steppe Gold's strategic objectives, positioning the company for sustained growth and value creation in the years to come.

As Steppe Gold charts its course towards becoming a dominant force in Mongolia's mining landscape, the company remains steadfast in its commitment to delivering value to its shareholders while driving sustainable growth through strategic acquisitions and operational excellence. Stay tuned for further updates as Steppe Gold continues to execute its ambitious expansion plans and solidify its position as a leading player in the gold mining industry.

We are focusing on expanding our assets and strengthening financial positions.

Having secured full financing of $150m with the first tranche of $50m fully drawn down, Steppe Gold is now accelerating the development of ATO Phase 2 Expansion.

The potential acquisition of Boroo Gold is proceeding well with the due diligence process now in the latter stage.

Jeremy South, senior VP and CFO of Steppe Gold, shares details of our ongoing Boroo acquisition, production expansion in Mongolia and further growth plans.

Steppe Gold is a Mongolia-focused company, expanding production profile to over 160Koz AuEq per annum by 2026 through the committed Phase 2 Expansion and the Boroo acquisition.

Aneel Waraich speaks to Investor Ideas about the background of starting Steppe Gold, and mining in Mongolia. Cost efficiency and renewable energy initiatives are two topic standouts discussed. He also shares results from 2023, the recent acquisition making them the largest producer of gold in Mongolia, and what to look out for in 2024 in gold prices .

Stay tuned till the end to hear why Steppe Gold is one to watch !

Listen to Aneel Waraich and Craig Hemke discuss the exploration industry, inflation, monetary policy and the significance of precious metals.

Steppe Gold is now merging with Boroo Gold to create Mongolia’s leading gold producer.

Upon completion of the deal, we are increasing our production rapidly, from 30Koz to 160Koz by 2026 as ATO Phase 2 Expansion comes on stream, indicating strong cash flow and financial scale.

Backed by strong local support and social license, and now a solid financial base, Steppe Gold is well-placed to build a mid-tier gold producer and create sustainable value for all stakeholders and partners.

Watch our latest updates here.

Talking with the Aneel from Steppe Gold about their gold operations from Mongolia. Everything about their current growth plans, free-cash-flow generation, local communities to their most recent acquisition of the Boroo Gold.

Fundamental Research Corp. sees gold prices having the potential to surge to $2,200/oz by year-end, driven by critical economic indicators and correlations with the US M2 money supply. They also reveal two junior gold producers that they believe are highly undervalued, offering potential investment opportunities for savvy investors looking to capitalize on the gold market.

Talking with the Aneel from Steppe Gold about their current cash-burn rate, cost per tonne and insider ownership.

Steppe Gold Executive Vice President Aneel Waraich joined Steve Darling from Proactive to unveil a major development that propels the company to the forefront as Mongolia's premier gold producer.
During the interview, Waraich disclosed that the company has successfully entered into a binding term sheet to acquire Boroo Gold LLC, a renowned gold producer boasting an impressive average gold production of over 60,000 ounces annually. Furthermore, Boroo Gold's anticipated mine life extends beyond 2030, cementing its status as a significant asset.
Waraich went on to explain that this strategic acquisition positions Steppe Gold as the leading gold producer in Mongolia. The company now has a near-term production target of an astounding 200,000 ounces per annum, which includes the committed ATO Gold Mine Phase 2 Expansion. As a result of this move, Steppe Gold's production is set to experience a substantial increase, soaring from 30,000 to 90,000 ounces per annum once the Proposed Transaction is finalized. Additionally, the deal is expected to contribute to Steppe Gold's already impressive existing resource base of over 4,000,000 ounces AuEq, solidifying its position as a dominant player in the industry.

Aneel Waraich, Executive Vice President and Director of Steppe Gold Ltd (TSX: STGO) (OTCQX: STPGF), joins the KE Report to outline the transaction to acquire the Boroo Gold Mine, as the next step in #gold #production growth in #Mongolia.

The Boroo Gold acquisition will establish Steppe Gold as Mongolia’s largest and leading gold producer, where production is expected to triple over the next two years to 90,000 ounces and 160,000 ounces by 2026, increasing their financial strength.

Responsible Mining in Eastern Mongolia forum was held with the focus on promoting and discussing responsible mining practices in the region. Mongolian Mining Association and the Ministry of Mining and Heavy Industry organized it, with Steppe Gold participating as a co-organizer.

Steppe’s ATO Gold Mine is located in Tsagaan-Ovoo soum, Dornod Province in Eastern Mongolia.

The province actively endorses local community agreements with mining companies. In 2019, Steppe Gold signed the Local Community Agreement with the province authorities, committing to sustainable development in the region.