Steppe Gold Ltd T.STGO

7th Turd CFO - and then we shut down for winter as planned

[Ogopogo007]

HUH ?

From Nov 2020 MD&A

Outlook
The Company intends to continue mining and stacking throughout the winter months at current or higher rates, although it expects a slightly lower rate of production in the first quarter of 2021, the coldest months of the year. 

Inventories
As at September 30, third quarter 2020 the company is reporting a total inventory balance of $8.2 million. This includes warehouse consumables, ore stockpiles, goldincircuit, and finished goods.   The current carrying balance of consumables is $1.2 million compared to $0.9 million for this same period in 2019. This is driven by increased stock on hand to accommodate the ATO Gold Mine’s requirements for steady state commercial production.  

IMHO......can't believe anything this co files on SEDAR. Material Fact when you shut down for a quarter...where was notice to shareholders?

UFB...guess that's how they fly in Mongolia

[Jack79]

Well, Ogo...painful topic again...Most interesting part of FS YE2020 is "financial costs"...almost 11.4 times higher than YE2019...What's in that? $1,846,000 only in 2019 but in 2020 jumped to $21,106,000...Change in fair value of derivative liability 2019-873k, 2020-17,953k How MNP auditors measuring "materiality"? ...Just a few notes in MD&A & Audited FS, ...we

[kkkrrr]

i think some people here are clueless about this financing things ... the financing costs are a non-cash issue and absolutely unimportant... important for the future: -boiler-plant ready for winter 2021/2022 (no interruption of production again) -crusher ready in July 2021 -feasibility study done early Q3 2021 -more exploration success (less important currently because the resource already is

[Jack79]

kkkrrr -> Hah...Easy..if problem occurs, either it's unimportant or add another plant. Misinterpretation of mining operations in financial language. Immaterial events turns into material events. If it's non-cash, immaterial, as you think, what if remove that numbers? It's not, you know that. If financials not important, why posting it in sedar? ... That non-cash you have to pay

[kkkrrr]

we will se.. i have the impression managment knows what to do .. its their job not ours ...    i see the current valuation , the grow of the resources and the production guidiance for 2021 /2022 and further....    2020/2021 was a extremely cold winter there , check out the historical numbers... ...it will not happen again...   the new crusher has enough capacity wich

[kkkrrr]

Finance Costs Finance costs for the fourth quarter 2020 decreased to $0.3 million compared to $10.4 million for the third quarter 2020. The decrease was primarily related to $9.2 million change in the fair value of convertible debenture derivative component due to the changes in underlying factors used in valuation method. Finance costs for the year ended December 31, 2020 amounted to $21.1

[Jack79]

Well, sounds like crypto "bubble" for non cash loss of debentures. Let's see when this "virtual" loss converts into gain, pushing EBITDA ahead. Have you calculated Debt/Equity? And still no comment for "Restricted cash"...STGO always said "positive cash" all days. It is real? After adding massive loan/debentures to the company, awaken from long happy

[kkkrrr]

It is targeting annual production in 2021 and 2022 of between 50,000 to 60,000 oz and then a transition to the fresh rock ores in 2023. Production forecasts for 2021 are dependent on a restart of leaching in April 2021 and no further delays on procurement due to COVID 19. The Company is now stacking ore on cell 3 of the leach pad. Stacking of the first level of the leach pad (Cells 1-5) will

[Jack79]

kkkrrr .. yes, i'm over informed about that....What if STGO over perfom instead over inform? Positive CF-a lie, Announced commercial prod.-a lie, Confusing AISC & Cash cost, 60k oz/yr- a lie, even forgot -40C below winter season... But i'm accepting delays that there was a problem with local herders at the time STGO developing mine site...https://ejatlas.org/conflict/steppe-golds

[kkkrrr]

sorry, i will not answer to such sarcastic BS ...   ignore for you

[chonasis]

kkkrrr....don't even bother...first there were 2 Stooges (Grip n Rip / Ogopogo) now they thought, hmmmm we should probably get a 3rd to round out a trio.... these guys don't have a clue about mining, how to interpret results, the dude (Grip N Rip) is an outed janitor but (self proclaimed mining and investment guru) who doesn't know how to do basic math and has the investment horizon

[Ogopogo007]

So what DD might you of done...other than seeing a presentation and drinking some koolaid? 2019 - koolaid was 12,000+ oz produced & sold , funded to production. Reality was zero ounces sold and massive dilution...freak even the conv deb's conversion got whacked 2020 - koolaid was 60,000 oz produced & sold and no dilution, reality was barely 1/2 60K and a whack more dilution (uncle