60 thousand ounces of gold projected for 2020
Steppe Gold is Mongolia’s premier precious metals company. They’re projected to produce 60,000 ounces of gold from its ATO Gold Mine in 2020. 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 ATO Project
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. Moreover, the ATO Project comprises of one mining licence over an area of 5,492.63 hectares.
The Technical Report dated October 4, 2017 proposed a development plan for an open-pit heap leach operation at the ATO Project 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.
More on Steppe Gold
Steppe Gold has been building a strong local support and relationship prior to commencing mining works. The Company’s first priority is and will continue to be safety and ensuring all of its employees return home safely.
Additionally, they’ve signed a cooperation agreement with the local province ensuring a beneficial working environment for all parties. They also actively encourage and are increasing its local shareholder base and is planning to dual list on the local Mongolian Stock Exchange.
Steppe Gold has a proven track record. Furthermore, they have a strong social licence to operate and strong support from Mongolian investors.
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