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Steppe Gold Ltd T.STGO

Alternate Symbol(s):  STPGF

Steppe Gold Ltd. is engaged in the business of precious metals and minerals exploration sector. Its project includes Altan Tsagaan Ovoo (ATO) gold and silver project, Mungu Project, Uudam Khundii UK Project, and Tres Cruces Project. The ATO Project is located in the territory of Tsagaan Ovoo soum of Dornod province in eastern Mongolia and is comprised of one mining license covering an area of 5492 hectares. The Mungu gold and silver discovery is located northeast of the ATO Project. It is a structurally controlled epithermal gold-silver system with localized bonanza grades. The Uudam Khundii property is comprised of one exploration license covering 14,397 hectares. The project area is located 800 km south-west of Ulaanbaatar. The property is located between and adjoining the Bayan Khundii gold discovery and Altan Nar epithermal gold deposits explored by Erdene Resource Development Corporation. It also owns an interest in the Tres Cruces Gold Project located in Northern Peru.


TSX:STGO - Post by User

Post by Jack79on Aug 19, 2021 4:18am
210 Views
Post# 33728832

Dang! ...Double checked..missing 21k Oz silver...

Dang! ...Double checked..missing 21k Oz silver...During production period til Q2'21, STGO produced 36.2k oz silver, then sold 15.3k oz .... difference is 21k oz...where that silver gone? Maybe i'm wrong....but Q4'20 MD&A tells STGO produced 24,069 oz silver produced and 3,429 silver ounces sold at average $23 per oz. 

Double checked Q4'20 MD&A, page 14, under "Operational summary" section...Keeps produced silver in their warehouse? Why just don't sell it immediately ? 

Gold is OK, 40.3k oz produced then sold 39.2...only small difference, but i guess its for sampling, as they wrote in their FS as "...Finished goods inventory represents gold ounces located at the mine and bars still under assay at the Mongolian Agency for Standardization and Metrology (“MASM”)...."      For the silver still unknown how long MASM holds that bars for assaying .....

Period  Gold produced   Silver produced   Gold sold   Silver sold 
 2021-Q2                    7,202                       762            6,558              693
 2021-Q1                         -                           -                 945              861
 2020-Q4                   7,423                  24,069           7,923           3,429
 2020-Q3                  10,342                    6,516          11,352           6,553
 2020-Q2                  15,389                    4,978          12,458           3,728
Total                40,356                  36,325         39,236         15,264

Period Silver produced Silver sold Ore stacked Ore mined
 Q4-2020  24,069 3,429 206,703 291,455
 YTD - YE 2020                  35,563 13,710 699,204 1,138,209

1. Revenue for the quarter was $13,217 on sales of 7,923 gold ounces and 3,429 silver ounces with average realized prices per ounce of $1,882 and $23 respectively 

2. During the year ended December 31, 2020, 1,138,209 tonnes of ore was mined and the crushing plant processed 699,204 tonnes of ore with an average gold grade of 2.03 g/t and an average silver grade of 8.88 g/t.
 
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