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.

Dive into the fascinating world of mining with us as we host Aneel Waraich from Steppe Gold. In this enlightening interview, Aneel discusses the company's journey, its ATO Gold Mine, and ambitious expansion plans. Learn about their unique funding strategies, commitment to local content, and vision for a sustainable future in mining. We also explore the company's financial health, share structure, and its potential impact on investors. This episode is a must-watch for anyone interested in the latest trends and opportunities in the mining sector. Like, subscribe, and hit the bell for more insights!

Visit our website here:
https://steppegold.com/

CEO.CA caught up with Bataa Tumur-Ochir, Chairman & CEO of Steppe Gold, to discuss their phase 2 expansion, operating in Mongolia, and their dual approach of production and exploration.

Learn more about Steppe at https://steppegold.com/ and join the CEO discussion at https://ceo.ca/stgo.

Visit our website here:
https://steppegold.com/

Visit our website here:
https://steppegold.com/

Steppe Gold’s EVP & Director Aneel Waraich shares the company’s plan on the development of fully de-risked Phase 2 Expansion project and detailed insights of its US$150 million financing package.
Steppe Gold reached the 100,000 oz milestone from ATO Phase 1 and Phase 2 Expansion Development is ongoing with crusher construction. Phase 2 Expansion is expected to produce 100,000 oz AuEq per annum for 12 years.