Steppe Gold secures $40.4M for ATO Gold Mine Phase 2 expansion, bringing total drawdown to $50M.
Steppe Gold Ltd., a Mongolian gold mining firm, has secured a $40.4M drawdown from its $150M project finance package for its ATO Gold Mine's Phase 2 Expansion. This brings the total drawn from the first tranche to $50M. The expansion is scheduled for completion in Q1 2026, and upon completion along with Boroo Gold acquisition, Steppe Gold is estimated to produce over 160,000 ounces by 2026.
March 26, 2024
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