Steppe Gold (“Steppe”) has announced that it has entered into a binding term sheet through which it will acquire all of the issued shares of Boroo Gold (“Boroo”) in an all shares transaction. Boroo is a Mongolian gold miner with production of 60koz/year. This transaction would increase Steppe’s production for 2024 and 2025 to ~90koz/year upon completion, rising to 160koz/year when the Phase II of ATO is commissioned in 2026, and would add 4Moz on a gold equivalent basis to the company’s resource ....
22 Jan 2024
Steppe Gold: Merger with Boroo Gold to add 60koz/year to production
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Steppe Gold: Merger with Boroo Gold to add 60koz/year to production
Steppe Gold (“Steppe”) has announced that it has entered into a binding term sheet through which it will acquire all of the issued shares of Boroo Gold (“Boroo”) in an all shares transaction. Boroo is a Mongolian gold miner with production of 60koz/year. This transaction would increase Steppe’s production for 2024 and 2025 to ~90koz/year upon completion, rising to 160koz/year when the Phase II of ATO is commissioned in 2026, and would add 4Moz on a gold equivalent basis to the company’s resource ....