Steppe Gold is Mongolia’s premier precious metals company and Asia’s newest gold producer. Currently in Phase I of their operations, a recent feasibility study has reinforced the potential of producing ~100,000 of gold ounces per annum for the first 5 years of their Phase II operations, at their 100% owned flagship asset, the ATO Gold Mine.
In the last year, Steppe doubled its resources, released robust FS results adding 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.
Eric Sprott – 10%
Bataa Tumur-Ochir – 8.7%
LIM Advisors – 7%
Fidelity International – 6%
Aneel Waraich – 5%
Management Ownership – 15%
Aneel Waraich – EVP & Director
Aneel is a ﬁnancial services professional with 15 years of progressive experience in capital markets having worked on over $1B in deals. He is the founder of ATMA Capital Markets, focusing on advising public and private companies in the Natural Resources sector. Aneel also serves as Director of ION Energy, an emerging lithium explorer, and holds an MBA from the Goodman Institute of Investment Management at John Molson School of Business.
Lots of exciting new developments for the market, on Steppe Gold’s production, development & expansions.
October 2021 – Released robust FS results adding another 10.5 years of mine life at double the current production profile
November 2021 – Launched Phase 2 infrastructure plans & announced landmark US $65M Project Financing Package for expansions
December 2021 – Awarded Development of the Year by Mongolia Bloomberg
March 2022 – Restart of Production at ATO Gold Mine with healthy inventory of unprocessed ore and reagent supply
April 2022 – Exciting new discovery of multiple high grade zinc sulphide intercepts beneath the existing ATO Gold Deposits.
July 2022 – Maiden Exploration Drilling Commenced at “UK” Project in Bayankhongor and
further exploration at ATO Gold Mine
Major equipment installations for Steppe’s Phase 2 Expansion, including crusher installation, chemical storage expansion and fuel storage expansion, which will allow the Company to drive higher crushing rates.
Expect a significant uptick in the production rate in the third quarter with internal guidance around 15,000 oz for Q3.
Discussions ongoing with international and Mongolian lenders and traders for project finance options for Phase 2 Expansion
Global supply chain issues, geopolitical realities, and continuing to work with trusted suppliers and government partners to mitigate such risks.
A strong in-country success story, that continues to deliver on the value proposition and responsible business planning that it has always committed to.
Mongolia’s top gold producer, with a seasoned team with proven track record in the mining sector, a trusted partner with all levels of government, committed to building up local communities and Mongolia’s future talent.