Steppe Gold (TSX:STGO) is Mongolia's premier precious metals company. It is projected to produce around 50,000 ounces of gold per year from its Phase 1 heap leach operation at its ATO gold mine. It is also looking at a Phase 2 expansion which could double the annual production over the first five years. This is from the development of fresh rock ores.
We recently caught up with the management team at the Swiss Mining Institute conference in Zurich, hosted by Bally Capital. They said Mongolia remains a very favourable jurisdiction from a mining perspective - e.g. Rio Tinto certainly thinks so too, committing $5bn to its 100% owned Oyu Tolgoi project.
Steppe Gold's Altan Tsagaan Ovoo - ATO - gold mine is worth a look for the seasoned gold mining investor. It recently got the nod for grid power to its Phase 2 expansion from the government. This will reduce expected cash costs by well in excess of $100/oz for Phase 2.
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