Steppe Gold is a Mongolia focused precious metals company projected to produce between 50,000 - 60,000 ounces of Gold annually, from its ATO Gold Mine. The company is also completing a feasibility study into the expansion of the ATO Gold Mine to approximately 150,000 ounces of gold per annum from the development of underlying fresh rock ores.

The initial Phase 1 at the ATO mine is now fully commissioned, permitted and in production. The company brought the oxide heap leach production online in April 2020 and produced 35,000 oz in the 9 months before year end. Production started in the midst of the Covid pandemic which meant the team at the mine were 100% Mongolian as no expats were allowed into the country. 

Steppe Gold became a public company in May 2018 when they raised CAD$25M. The company has a proven track record, a strong social license to operate and strong support from Mongolian investors.

Cash Flow from 2020 production will be reinvested in Phase 2 of the ATO mine which is a much larger project with construction expected to start in the second half of 2021. They are currently doing a revised bankable feasibility study which should be completed by end Q2 and has doubled the resource from 1.2 million oz to 2.45 million oz for the Phase 2 operation. 

2021 is going to be action packed for Steppe Gold as they are now established as a producer and will become more aggressive in terms of growth going forward. The Phase 1 operation will generate cash for much larger production at the Phase 2 CIL plant. The new resource will continue to grow with further resource expansion and exploration potential. They are starting exploration drilling and construction will start at Phase 2 all within 3-6 months this year. There is also potential for Steppe Gold to make further acquisitions in country.

Company Page: https://steppegold.com/

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