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Steppe Gold pours first gold, ramps up production in Mongolia www.kitko.mn
Steppe Gold (TSX: STGO) said today that the company completed its first gold pour in Mongolia and concluded its first sale in late March.
The gold pour was 1,532 ounces of gold with gross proceeds of US$2.93m.
The company added it continues crushing and stacking operations and has recommenced mining with operations in all active pits.
Steppe plans to produce over 100,000 ounces of gold from the oxide zones in 2022 and 2023.
President and CEO Bataa Tumur-Ochir commented, "We are very pleased to be back in production and to conclude our first gold pour and sale for the year. 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."
by Vladimr Basov
Steppe Gold is Mongolia’s premier precious metals company and is projected to produce over 100k ounce of gold from the current operational oxide zone of ATO gold mine in 2022 and 2023.
Published Date:2022-04-07
