Steppe Gold Ltd (TSX:STGO, OTCQX:STPGF) announced that its subsidiary Steppe Investments has entered into an amended and restated gold prepay agreement with Triple Flag International for an additional advance under its existing short-term gold prepay facility.
The Mongolia-focused miner said that under the agreement, Triple Flag has advanced additional funds of $5 million to Steppe Gold or one of its affiliates.
The facility will be repaid by the company over five months, starting August 15, 2024, with five monthly deliveries of 530 ounces of gold for a total of 2,650 ounces delivered.