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CompanySteppe Gold

  • Location: Mongolia
  • Tickers:
    • FRA:2J9
    • OTCQX:OTCM
    • TSX:STGO
  • Project Stages:
    • Development
    • Exploration
    • Production

Steppe Gold is Mongolia’s premier precious metals company, having commenced production in 2020 and produced almost 34,000 ounces at ~$800 AISC, from their ATO Gold Mine in 2022. This 100% owned flagship asset is projected to produce over 100,000 ounces of gold by the end of 2024.

In the last two years, Steppe has doubled its resources, released robust Feasibility Study results that added another 10.5 years of mine life at double the current production profile, launched its Phase 2 infrastructure plans, secured a landmark US $60M financing package and was awarded Mongolia Bloomberg’s 2021 Development of the Year.

The Steppe team has made significant and rapid infrastructure progress towards their Phase 2 expansions, including the installation of a new fixed crusher that will increase the Company’s capacity by 4 times, up to 4Mt per annum/ at 50% of its power.

In 2022, Steppe furthered its plans to create a new, multi-million ounce exploration potential, gold district in Bayankhongor province, achieved a 180% increase in gold production from 2021 at the ATO mine, and entered a landmark power agreement to drive significant operational energy savings which will reduce cash costs in excess of $100/oz for their Phase 2 expansions.

Steppe Gold is proudly Mongolian: a success story in a modern, investment-friendly jurisdiction that starts with their team - 99% are Mongolian nationals. 75% come from the local communities, and Steppe has already provided 1,000 scholarships to local youth. As Steppe Gold develops, so does their local community, and in turn, the talent pool of Mongolia.

With strong social licence, recognition from leading institutional investors, a high volume of paid-for inventory and a healthy cashflow, Steppe Gold is an action-packed expansion story to watch!

Steppe Gold