World’s newest low-cost gold producer continues to expand
Steppe Gold is Mongolia’s premier precious metals company. They are projected to produce 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.
ATO Gold Mine
The Altan Tsagaan Ovoo gold and silver project (the “ATO Project”) is located in the territory of Tsagaan Ovoo soum, Dornod province of Eastern Mongolia. Additionally, the ATO Project is comprised of one mining licence (MV-017111) over an area of 5,492.63 hectares. Further, the mine is fully commissioned, permitted and in production.
The Technical Report in 2017 proposed a development plan for an open-pit heap leach operation at the ATO Project. Furthermore, it was estimated to produce 146,699 ounces of Au and 672,518 ounces Ag over the project period at an attractive total capital cost of US$19.6 million and total operating cost of US$48.8 million over the project period.
Steppe Gold has a proven track record. They also have a strong social licence to operate and strong support from Mongolian investors.
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