Steppe Gold Ltd (TSX:STGO, OTCQX:STPGF) has announced that its CEO Bataa Tumur-Ochir will also assume the role of company chairman, effective immediately.
The Mongolia-focused precious metals firm said Tumur-Ochir, who has led the Steppe Gold as CEO since December 2019, is also now its largest shareholder, on a partially diluted basis.
“Completion of financing for our Phase 2 Expansion is our top priority and advancing the dual listing on the Hong Kong Stock Exchange,” Tumur-Ochir said in a statement.
“We expect that these projects will be transformative for our company,” he added.
Steppe Gold noted that Tumur-Ochir has been instrumental in the management and growth of the company since listing, guiding the ATO Gold Mine from a greenfield site to a modern and international standard gold mine in Mongolia, now in its fourth year of production.
The company added that retiring chairman Matthew Wood will remain in the role of a non-executive director and will continue to act as an advisor to its board.
Steppe Gold is Mongolia’s premier precious metals company.
Contact Sean at sean@proactiveinvestors.com