Company
Steppe Gold Ltd
TSE:STGO
Steppe Gold Ltd is Mongolia's premier precious metals company producing gold from the operational oxide zone of the ATO Gold Mine. The company has completed a feasibility study into expansion of the ATO Gold Mine to approximately 100,000 ounces of gold per annum from the development of underlying fresh rock ores.
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Steppe Gold receives 'Buy' from Stifel GMP, as miner beats on EPS in Q3 on higher gross margin and lower interest expenses
Analysts noted that the 'EPS beat' was driven by higher gross margins and lower interest expenses due to significant repayment of debt in the quarter
Steppe Gold aiming to maximize output as it eyes Phase 2 expansion at ATO
In the three months to end-September, the miner posted adjusted underlying earnings (EBITDA) of US$10.48 million on revenue of US$21.7 million
Steppe Gold's production update gets the thumbs up from Stifel and Hannam & Partners
Both brokers have bullish price targets for Mongolia's premier precious metals company.
Steppe Gold says gold production jumped 28% in third quarter
“We are very pleased to report continued ramp-up of production at the ATO Gold Mine in the third quarter,” said Steppe Gold president and CEO Bataa Tumur-Ochir
Steppe Gold moves to consolidate gold position in Mongolia’s Bayankhongor province with three milestone agreements
Steppe Gold said it is committed to a strong two-way partnership with all stakeholders in the region, particularly the residents of the local Soum area
Steppe Gold strikes short-term gold prepay agreement with Triple Flag International worth US$4.6M
One of the consequences of the zero Covid policy in China and the closures along its border with Mongolia has been a shortage of available US dollars with banks in Mongolia
Stonegate Capital Partners positive about Steppe Gold on ATO commercial production
Analysts set a share valuation range of C$2.00 to C$3.75 per share, with a mid-point of C$3.00, on Steppe Gold's positive cash flow and experienced management team
Stifel GMP upbeat on Mongolia-focused Steppe Gold following ATO Phase 2 expansion plan update
On August 30, Steppe reported positive progress on its Phase 2 expansion plan at the mine after it received a landmark power agreement and is constructing a new fixed crusher, which is expected to be completed in October this year
Steppe Gold rapidly advancing Phase 2 expansion at ATO mine, new crusher nearing completion
All equipment for the new unit has arrived and 160 tonnes of equipment have been installed out of a total of 220 tonnes
Steppe Gold reports financial results for the three months ended June 30, 2022, issues July production update
The company posted revenue for the three months period of $17,237 on sales of 8,907 gold ounces and 717 silver ounces with average realized prices per ounce of $1,933 and $22 respectively
Stifel GMP repeats 'Buy' recommendation on Steppe Gold as ramp up at ATO mine exceeds broker's expectations
The miner announced on June 27 this year that gold output from its flagship mine was expected to hit 10,400 ounces in the second quarter, 6% higher than the broker's expected figure
Steppe Gold anticipates 2Q gold production of around 10,400 ounces from its ATO mine in Mongolia
Gold production for the month of June is expected to be around 3,200 ounces, according to Steppe
Steppe Gold maintains ‘Buy' rating from Couloir Capital after achieving multiple milestones at its flagship ATO gold mine in Mongolia
Couloir analysts wrote that Steppe Gold’s current valuation failed to capture its growth potential and raised their valuation of the company to C$2.22 per share from C$2.02 in their previous update
Steppe Gold maintains ‘Buy’ rating from Stifel as its May production beats estimates
Analysts at Stifel said they are pleased to see the ramp-up at ATO Gold Mine going so smoothly and that “the rate of production is increasing faster than we had expected”
Steppe Gold says gold production in Mongolia continues to increase in May with roughly 3,800 ounces of output
This compares to the output of 3,370 oz in April and 1,532 oz in March, the company said
Steppe Gold is 'ripe for a re-rate' says Stifel GMP after miner's first quarter beat on higher than expected production
Gold production in the three months ending March 31 was 2,385 ounces compared to the broker's modeled 1,532 ounces
Steppe Gold reports 1Q revenue boost as company ramps up production at its ATO mine in Mongolia
The company reported revenue for the three months ending March 31, 2022, of $5.5 million, compared to $1.9 million for the same period in 2021
Steppe Gold reports higher April gold output as production ramps up at its ATO mine in Mongolia
During the month of April, the firm reported gold production of approximately 3,350 ounces in two pours, compared to 1,532 ounces in March 2022
Gold in focus ahead of 1Q earnings as miners set to reveal impact of war, rising cost pressures on operations
Analysts predict increased fuel prices spurred by the war in Ukraine and the pandemic will impact 1Q earnings for some of the biggest precious metals miners
Stifel GMP maintains 'Buy' on Steppe Gold after site visit reveals steady state operation at its ATO mine in Mongolia
Analysts at the brokerage noted that the oxide mine is well-positioned for production success and reserve growth, with early Phase 2 Sulphide expansion work well underway
Steppe Gold discovers multiple high-grade zinc zones below ATO gold deposits
"We are very pleased to announce these exciting drill results with high grade intercepts of zinc and lead supporting our view that the Phase 2 Expansion at ATO has much further to go,” the company’s president and CEO Bataa Tumur-Ochir said
Steppe Gold announces maiden gold pour and sale as ramp-up and inventory build-up continues
“With an estimated 80,000 ounces of gold in inventory, ramp-up of production continues and we look forward to a very active year of production and strong cash flow, as well as expansion and exploration on both of our licenses," said preside
Steppe Gold posts revenue of US$24M in 2021; sees sales of 12,899 ounces of gold and 28,622 ounces silver
Operating income from mine operations, before depreciation and depletion for the year to December 31, 2021 was US$12.4M, while the group adjusted earnings before interest, tax, depreciation and amortization was US$4.9M
Hannam & Partners ups target price for Steppe Gold after news of resumption of full gold production from its ATO project in Mongolia
Hannam's analysts said: "We view the restart of production as a major catalyst for the stock, reducing the residual uncertainty over the funding of ATO’s Phase 2 sulphide expansion which will continue to progress over the coming months"
Stifel GMP repeats 'Buy' on Steppe Gold as it restarts heap leach processing to recover gold and silver at its ATO mine in Mongolia
Analysts at the brokerage said the company has 34,000 ounces of unleached, crushed ore stacked on the pad waiting for solution and a run-of-mine (ROM) inventory of another 38,500oz
Steppe Gold back in production at ATO gold mine in Mongolia after receiving key reagents
As of March 1 this year, the firm has 2.45 million (m) tonnes of ore stacked on the leach and run-of-mine (ROM) pads
Steppe Gold gets price target raised to $3.50 by Stifel after positive feasibility study report on Phase II sulphide expansion
Stifel's analysts said they are reducing the discount rate for the Phase 2 Sulphides to 5% from 7.5% as the publication of the study de-risks the project
Steppe Gold gets $3.15 price target from Hannan & Partners as it initiates coverage on the Mongolia-focused miner
The research firm wrote that Steppe is a “ground floor opportunity in a proven gold producer,” noting that the company is upsizing operations at its ATO mine in Mongolia
Steppe Gold building Mongolia's premier precious metals group and progressing ATO mine expansion plans
The company began producing gold at its flagship Altan Tsaagan Ovoo (ATO) mine in March 2020
Steppe Gold strikes agreement for $65M in project finance and debt facility to fast track phase two construction at ATO Gold Mine in Mongolia
The 2021 Gold-2 Loan is a special purpose covenant-light loan, with a three-year term at 9% interest and full prepayment rights without penalty
Steppe Gold says feasibility study shows US$1.7B revenue potential from its ATO project in Mongolia
The company said the results reinforce its current Phase 2 expansion plans with construction already underway and existing permitting and infrastructure in place
Steppe Gold releases 3Q update on operations at its flagship ATO gold mine in Mongolia
During the third quarter mining and stacking on the heap leach phase at the ATO mine has continued with 1.7 million tonnes stacked on the leach pad and a further 0.6 million tonnes stacked on the ROM pad
Stifel GMP repeats 'Buy' on Steppe Gold following challenging Q2; analysts eyeing ATO expansion feasibility and leaching restart
As recently reported, the firm ceased leaching (but continued stacking) at ATO in early July this year due to issues surrounding cyanide supply
Steppe Gold making strong recovery following coronavirus related setbacks
The first six months of the year have been a busy period for the company which has been mining and stacking on the heap leach phase
Steppe Gold gets the go-ahead to cross-list on the Mongolian Stock Exchange
Over 20% of Steppe Gold’s shares are already owned by Mongolian investors and it said the cross-listing reaffirmed its commitment to enable more Mongolians to share in its success
Steppe Gold focused on Phase 2 expansion preparations in Mongolia as production makes slow start in 2021
In the three months to March 31, the company mined 179,130 tonnes versus 291,455 tonnes in the previous quarter to December 31, 2020
Steppe Gold delivers strong 4Q results with US$13.2M in revenue and market-low cash costs
The company produced 7,923 gold ounces at a realized price per ounce of $1,882 and 3,429 silver ounces at $23 from its ATO gold operation at an all-in sustaining cost of US$902
Steppe Gold says new crusher poised to be operational by July this year as it updates on Phase 2 expansion plans in Mongolia
The miner has bought a new crushing plant from a leading international supplier for US$5 million
Stifel GMP ups price target on Steppe Gold to C$4 after miner doubles its ATO gold mine resource
An updated resource estimate at the Mongolian project saw the measured and indicated (M&I) resources increase to 41.6 million tons or 2.2 million ounces at an average grade of 1.7 grams per ton (g/t) gold equivalent ounces
Steppe Gold releases updated resource estimate that doubles resource at ATO gold mine to nearly 2.5 million ounces
Measured and indicated (M&I) resources increase to 41.6 million tons or 2.2 million ounces at an average grade of 1.7 g/t gold equivalent ounces
Steppe Gold unveils plans for secondary listing on Mongolian Stock Exchange
The miner has hired Ard Securities as lead advisor and underwriter in connection with the proposed secondary listing
Steppe Gold announces 3Q cash flow of US$12.7 million from its ATO gold mine in Mongolia
The company recorded revenue for the quarter of US$19.4 million with All in Sustaining Costs (AISC) of US$794 per gold ounce sold
Steppe Gold's ATO mine poised to be free cash flow machine, says Stifel GMP as it starts coverage
Using the current spot gold price, analysts at the investment bank see the newly commercial ATO mine generating US$100 million of free cash flow over the next two years
Steppe Gold secures initial debt funding of around US$10.5M for its expansion project at ATO mine
The financing, obtained through Mongolia's Gold-2 program, is for the initial amount of around US$10.5 million
Stonegate Capital hikes price guidance on Steppe Gold to around C$3.55 thanks to ATO project potential
The gold mining company recently started commercial production from the ATO project in Mongolia and has already produced 15,300 gold ounces
Steppe Gold continues to find good grades at ATO mine as it progresses bankable feasibility study on its expansion
Three diamond drill rigs are currently turning 24/7 at the ATO mine in Mongolia
Haywood Capital Markets hikes target for Steppe Gold by a dollar as it looks to potential transformative milestones ahead
The miner's second quarter results showed strong output from its flagship asset - the ATO mine
Steppe Gold building a premier gold player in mineral-rich Mongolia
Steppe Gold began producing gold at its flagship Altan Tsaagan Ovoo (ATO) mine in March this year
Steppe Gold seeing strong cash flow from ATO mine as it looks to second phase of expansion
The miner said production for the three months to June 30, 2020, came in at 15,389 ounces of gold and 4,978 ounces of silver
Steppe Gold says previously announced C$15M investment by Canadian resources investor Eric Sprott has completed
Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired a total of 6,976,944 units in Steppe Gold at a price of C$2.15 per unit
NA Proactive news snapshot: GlobeX Data, Information Services Corp, Royal Road Minerals, DRDGOLD, PyroGenesis Canada, Helix Technologies UPDATE …
A glance at some of the day's highlights from the Proactive Investors US and Canada newswire
Steppe Gold says Bankable Feasibility Study underway for the expansion of the ATO Gold Mine into fresh rock ores
The company has completed a substantial amount of drilling at the ATO Gold Mine since resources and reserves were last calculated
Steppe Gold commences exploration drilling and trenching programs at Mongolian gold projects
At the ATO Gold Mine, CEO Bataa Tumur-Ochir said the miner hopes to expand operations to 150,000 ounces per annum