Steppe Gold Ltd T.STGO

Alternate Symbol(s): STPGF

Metals & Mining Industrial Metals & Minerals

Steppe Gold Ltd is a Mongolia-focused precious metals company. The Company is focused on operating, developing, exploring and acquiring precious metal projects in Mongolia and Peru. Its projects include Altan Tsagaan Ovoo (ATO) gold and silver project, Mungu Project, and Uudam Khundii UK 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.

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Steppe Gold Ltd > The devil is in the details

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Post by Ogopogo007on Jun 18, 2021 7:26pm

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Post# 33415654

The devil is in the details

Borrowing money the "Mongolian Way"

Borrow $10M but put up $12M. WTF

On September 18, 2020, the Company entered into a loan agreement with the Trade and Development Bank of Mongolia (“TDB”) for 30 billion Mongolian Tugriks (US$10,510). The loan is financed by the Bank of Mongolia for a period of 24 months secured by a cash deposit held by TDB totaling 35.4 billion Mongolian Tugriks (US$12,483 as at December 31, 2020). The cash deposit is disclosed as restricted cash.

UFB

No wonder SP is back under IPO

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