Nothing achieved but wants sell a company...?Actually i didn't understand the purpose of last frontrun NR "Steppe Gold Provides Corporate Update"......Nothing achieved....Almost nears to full collapse/bankruptcy.......
As per my prediction below, it's something in mix of "bad"&"ugly".....
https://stockhouse.com/companies/bullboard/t.stgo/steppe-gold-ltd?postid=33639476 By analyzing below sentences from "Steppe Gold Provides Corporate Update", my version of what STGO wants to tell to its shareholders is certain.
So, my version, in short: "STGO hasn't made any progress in construction & installation for crusher, boiler house as per plan, means unable to leach during coming winter season....Mongolian lenders stopped negotiating on 2nd tranche of debt financing, therefore STGO seeking funds from overseas, especially from China. So late DFS & Drilling results dedicated to Chinese investors, not for TSX....Still no potential investors found at MSE, no progress....No one willing to buy a shares, or lend money even STGO sold 6,558 oz under pressure TDB commercial bank ...." .....Why so long form of explanation even it could summarized in 1 paragraph....IMO
1. Steppe Gold has been considering for some time the option of a listing on a major Asian stock exchange
2. Discussions on project finance options with Mongolian and International lenders continue and negotiations are well advanced on a first tranche of project debt with a leading Mongolian bank. With this due for closing soon, we expect to start work on a further tranche of debt with an international lending syndicate. We aim to have a comprehensive project debt package in place in the first half of 2022.
3. Steppe Gold received approval from the Financial Regulatory Commission of Mongolia in relation to its proposed cross-listing on the Mongolian Stock Exchange....The Company plans to complete this offering in the second half of 2021.
4. The Definitive Feasibility Study for the fresh rock expansion is nearly complete and headline numbers are expected to be released in the upcoming weeks, with the final report to be filed shortly thereafter.
5. Drill rigs will be mobilized to the Uudam Khundii project for maiden drilling on this exciting license in the coming weeks as we look to expand on the promising trenching results from 2020.
6. Solid progress has been made on construction and installation of the new fixed crushing unit and we expect this to be operational by October 2021.
7. The boiler house for winter leaching and production is near completion and is expected to be operational by September 2021.
8. We can report that the gold production at the ATO Gold Mine in Q2 2021 was 7,202 oz, with 6,558 oz sold at an average realised sale price of $1,852