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.