Steppe Gold Ltd T.STGO

BFS...CEO promises made, promises not delivered

[Ogopogo007]

See a trend here?

Ulaanbaatar, Mongolia–(Newsfile Corp. – February 24, 2021) – Steppe Gold Ltd (TSX: STGO) (“Steppe Gold” or the “Company”) is pleased to announce an updated independent Mineral Resource Estimate at its 100% owned ATO Gold Mine. This estimate will form the basis of the upcoming bankable feasibility study (“BFS”) due out in Q2 2021.

The new Resource supports our Phase 2 expansion Project and shows ample resources for a circa 2.5 Mt per annum fresh ore development. The Bankable Feasibility Study remains on schedule to be released Q2 2021
and we are optimistic that this study will bear out a robust economic result and a further 10 plus years of production at 150k oz Au Eq with a focus on the fresh rock ores.”

Nov 16 2020 NR
We are well under way with the development of the fresh rock phase 2 of the ATO project. The Bankable Feasibility Study (“BFS”) Update and related infrastructure studies are well underway and we are engaging with lenders on the project finance for Phase 2. With a strong cash balance we will look to secure long lead items early in 2021 and we are optimistic we can secure funding soon after the publication of the feasibility study.

• Work continues on the Bankable Feasibility Study (BFS) for the expansion of the ATO Gold Mine. The BFS aims to see expansion of the ATO Gold Mine into fresh rock ore with a planned production profile of approximately 150,000 gold equivalent ounces per year and an estimated ten-year plus mine life.

With the Bankable Feasibility Study due for completion in H1 2021, we expect to start construction of the new flotation and CIL circuit in H2 2021 with longer lead items being procured starting in early 2021. DRA Global has been retained for the BFS and Base Metallurgical Laboratories has been retained to complete metallurgical test work. The BFS is based on a previously completed Centerra Gold 2012 Internal Feasibility study together with further internal studies and exploration and infill drilling undertaken by Steppe Gold from 2017 to present.
Financing strategies for the ATO Gold Mine expansion are advancing in parallel with the BFS process, with construction targeted for commencement in Summer 2021

From Sept 13 2020 NR
The Company is also actively progressing its bankable feasibility study (“BFS”) in the Expansion of the ATO Gold Mine into fresh rock ores. The Company plans to provide regular updates on the BFS progress as data becomes available. External project finance advisers have been retained and discussions have already commenced with lending groups to enable the financing to progress in tandem with the BFS.

Wonder why after numerous claims STGO is engaged in creating and delivering a Bankable Feasibility Study (BFS) in Q2 2021, now the news has gone quiet on a BFS. Wonder why?
Consultants not getting paid? 
Dreams of robust economic results....aren't robust?
doing it the Mongolian way....promise then don't deliver

Same bunch of incompetent twits that claimed "Commercial production" and all performance parameters are being met...then a short time later "discover" crushing is a bottleneck that cost shareholders dearly

JMHO