Steppe Gold Ltd T.STGO

Selling Gold Mongolian way..why not sell each oz 5x?

[Ogopogo007]

UFB

Who the F gets fired for doing this?


As disclosed in note 14, the Company is required to sell 30% of its gold produced throughout the financing period to Capitron. However, the Company is required to sell all of gold produced throughout the financing period to TDB related to the loan agreement signed on September 18, 2020. Such event triggered the repayable on demand clasue in the loan agreement with both TDB and Capitron. Subsequent to the reporting period, the Company has obtained waiver from both TDB and Capitron that they will waive the current and past event for the breach of the sales requirement.

Rookies?
Incompetent ?

Can mngmnt count to 100% ?

JMHO

[Jack79]

That's quite unusual, ....Ogo....What i understood from below news is STGO have to sell gold to TDB (trade & development bank of mongolia) to repay Gold-II national programme loan support.  https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2601-tsx/stgo/84887-steppe-gold-secures-initial-tranche-of-debt-funding-for-phase-2-expansion.html https://www.tdbm.mn/en/36/c