1 THE PEOPLE THAT COVID-19 HAS CUT OFF FROM HOME WWW.THEGUARDIAN.COM PUBLISHED:2020/08/03      2 RUSSIA PROPOSES $20 BILLION IN NEW INVESTMENT PROJECTS WITH CHINA WWW.RT.COM PUBLISHED:2020/08/03      3 U.S. ELECTION WILL BE NOV. 3 AS PLANNED, TRUMP ADVISERS SAY WWW.REUTERS.COM PUBLISHED:2020/08/03      4 MONGOLIA REPORTS TWO NEW COVID-19 CASES WWW.XINHUANET.COM PUBLISHED:2020/08/03      5 “GREEN GATEWAY” TEMPORARY REGULATION COMES INTO EFFECT FROM AUGUST 1 WWW.MONTSAME.MN PUBLISHED:2020/08/03      6 MONGOLIA TO ENJOY TARIFF DISCOUNT ON 10 THOUSAND TYPES OF PRODUCTS BY JOINING APTA WWW.MONTSAME.MN PUBLISHED:2020/08/03      7 MONGOLIA TO DELIVER 30 THOUSAND SHEEP TO CHINA FROM SEPTEMBER WWW.NEWS.MN PUBLISHED:2020/08/03      8 62-YEAR-OLD MONGOLIAN DIES ON CHARTER FLIGHT FROM SYDNEY WWW.NEWS.MN PUBLISHED:2020/08/03      9 RUSSIAN BILLIONAIRE ABRAMOVICH SELLS OUT IN $1.4BN GOLD DEAL WWW.MINING.COM PUBLISHED:2020/08/03      10 CHINA'S FACTORY ACTIVITY BEATS EXPECTATIONS IN JULY, EXPANDS FOR FIFTH MONTH: OFFICIAL PMI WWW.REUTERS.COM PUBLISHED:2020/07/31      БНХАУ РУУ 3000 ТОНН АДУУНЫ МАХ ЭКСПОРТОЛЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2020/08/02     УБТЗ 16.9 САЯ ТОНН АЧАА ТЭЭВЭРЛЭСЭН АМЖИЛТААР ТӨМӨР ЗАМЧДЫН БАЯРАА УГТЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2020/08/02     ИПОТЕКИЙН ЗЭЭЛИЙН ДУНДАЖ ХҮҮ 1.1, ХАДГАЛАМЖИЙНХ 0.6 НЭГЖ ХУВИАР БУУРЧЭЭ WWW.UNUUDUR.MN НИЙТЭЛСЭН:2020/08/02     ГАДААДЫН ЗЭЭЛ, ТУСЛАМЖИЙГ АЙЛ ӨРХ, ААН, БАЙГУУЛЛАГАД ЗАРЦУУЛЖ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2020/08/02     БНХАУ 600 САЯ ЮАНИЙН БУЦАЛТГҮЙ ТУСЛАМЖ ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2020/08/02     БНХАУ-Д ТУСЛАМЖ БОЛГОН ӨГӨХ 30 МЯНГАН ХОНИЙГ ЕСДҮГЭЭР САРААС ЭХЛЭН ГАРГАХААР ЯРИЛЦЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2020/08/02     МОНГОЛД ДАРХАНЫ ЗАМ, ШИНЭ ТӨВ ЦЭВЭРЛЭХ БАЙГУУЛАМЖ ЗЭРЭГ ТОМООХОН ТӨСӨЛД АЖИЛЛАХААР 190 ГАДААД АЖИЛТАН ИРЖЭЭ EAGLE.MN НИЙТЭЛСЭН:2020/08/02     ЦАХИЛГААН ЭРЧИМ ХҮЧНИЙ ХЭРЭГЛЭЭ 7.8 ХУВИАР БУУРЧЭЭ WWW.EAGLE.MN  НИЙТЭЛСЭН:2020/08/02     МОНГОЛЫН ХӨРӨНГИЙН БИРЖ 404 САЯ ТӨГРӨГИЙН АЛДАГДАЛ ХҮЛЭЭЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2020/07/30     АЗИЙН ХӨГЖЛИЙН БАНК МАЛЧДАД ЧИГЛЭСЭН ТӨСӨЛ ХӨТӨЛБӨРӨӨ ҮРГЭЛЖҮҮЛНЭ WWW.GOGO.MN  НИЙТЭЛСЭН:2020/07/30    

Mongolia ATO gold mine passes 15,000 oz gold in first three months www.news.mn

Steppe Gold Ltd. provided an update on its production ramp-up at its 100%-owned ATO gold mine in Mongolia.

The company made its first gold sales starting on 23 April. Gold and silver is being produced and sold every 14 days. To date, Steppe has now sold a total of 15,389 oz gold and 4,978 oz silver in six separate deliveries. This has generated net cash flow, after royalty payments, of USD 25.3 million. Average achieved gold price for the sales to date is USD 1,725/oz.

As of 30 June, Steppe Gold has mined, crushed and stacked approximately 715,000 tonnes of ore onto Cell 1 where leaching continues. A further 160,000 tonnes of ore has been delivered to the ROM pad and is being crushed and stacked. Stacking of ore at Cell 2 has already commenced and leaching will begin in July.

Regular grade reconciliations continue to show strong outperformance to the published resource estimate with average grades of 2 g/t gold and some evidence of higher grade zones. Daily mining of ore continues from the ATO1 open cut with the ATO4 open cut being brought on-line in the coming months. Both the mining and stacking rates are being scaled up.

Despite the COVID-19 travel restrictions and border closing, Steppe Gold is continuing its operations without any material changes affecting the company. The company remains on track to produce approximately 60,000 oz gold in its first year of production at cash costs of circa USD 500/oz from the ATO mine.

With strong cash generation from the ATO mine, the company is now working on expanding the open pit and processing facilities to increase gold production to a targeted 150,000 oz gold per annum.

Exploration drilling continues at ATO1, ATO4 and the Mungu discovery with two rigs. Steppe Gold has also begun exploration at its Uudam Khundii Project with a trenching program underway and followed by an initial drilling program. (resource world)



Published Date:2020-07-09