Mongolia-focused precious metals miner Steppe Gold (TSX: STGO; US-OTC: STPGF) sees 2024 as a transformative year. The company is set to develop the underground sulphide deposit at the ATO mine in Mongolia and acquire an additional mine, which is expected to more than double its output to over 160,000 oz. gold by 2026.
Its recent Boroo mine acquisition has increased Steppe’s profile as Mongolia’s largest primary gold producer, with the company expecting to churn out 90,000 oz. for the year, Steppe’s executive vice-president, Aneel Wariach said at the Prospectors and Developers Association of Canada’s convention in Toronto.
“A 90,000 oz. producer at cost of about US$1,000 per oz. all-in is no different than 150,000 oz. producer at US$1,400 all-in,” Wariach said. “So now we’re relevant today and we’ll show up on the same screens from a profitability, cash flow – all those metrics – as some of the bigger guys.”
Watch the full interview with The Northern Miner’s western editor, Henry Lazenby, below.
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