Upload File

steppe - company update finalv1...steppe gold is a precious metals exploration and development...

  • Home
  • Documents
  • Steppe - Company Update FINALv1...Steppe Gold is a precious metals exploration and development company with an aggressive growth strategy to build Steppe into the premier precious
2
1 TSX Symbol: STGO Total Basic Shares O/S (M): 42.9 MATTHEW WOOD Chairman, President and CEO BATAA TUMUR-OCHIR Director and Vice President Mongolia ANEEL WARAICH Director and Executive Vice President PATRICK MICHAELS Director DR. ZAMBA BATJARGAL Director LEWIS MARKS Director SHELDON VANDERKOOY Director CONTACT INFORMATION THE COMPANY’S HEAD OFFICE: Shangri-La office, Suite 1201, Olympic street 19A, Sukhbaatar District 1, Ulaanbaatar 14241, Mongolia Tel: +976 7732 1914 TORONTO OFFICE: 90 Adelaide Street. W, Suite 400 Toronto, ON M5H 3V9, Canada Tel: +1 647 697 0577 TRANSFER AGENT: Lori Winchester Senior Relationship Manager, Client Management Phone: +1 416 607-7898 Cell: +1 416 671-4558 Email: [email protected] Toronto, ON – Steppe Gold Limited (TSX: STGO) – STEPPE DRAWS ON SECOND UPFRONT DEPOSIT UNDER TRIPLE FLAG BERMUDA GOLD STREAM AND REPAYS CENTERRA NOTE FOR ATO PROJECT ACQUISITION TORONTO -- Steppe Gold Limited (TSX: STGO) (the “Company” or “Steppe Gold”) is pleased to announce that it has met the conditions to advance the US$11.5 million Second Upfront Deposit available under its gold stream with Triple Flag Mining Finance Bermuda Ltd. (“Triple Flag Bermuda”) and Triple Flag has accepted an advance request for US$8.1 million to cover forecasted expenditures for development of the ATO Project to the end of the year. The advance will be made on a monthly basis, with the Company having already received an advance of US$3.8 million to cover October expenditures at the ATO project. The balance of the US$8.1 million advance will be paid in two tranches of US$2.6 million on October 26, 2018 and US$1.7 million on November 26, 2018. The Company and its subsidiaries Steppe Gold LLC and Steppe Investments Ltd. (“Steppe BVI”) entered into a metals purchase and sale agreement dated August 11, 2017 (the “Stream Agreement”) with Triple Flag Bermuda pursuant to which Steppe BVI agreed to sell to Triple Flag Bermuda a portion of the gold and silver produced from the ATO Project. Under the terms of the Stream Agreement, Steppe BVI is obligated to sell to Triple Flag Bermuda 25% of the gold and 50% of the silver produced from the ATO Project until such time as Steppe BVI has sold an aggregate of 46,000 ounces of gold and 375,000 ounces of silver, respectively (the “Delivery Milestones”). As consideration for the grant of the stream by Steppe BVI, Triple Flag Bermuda agreed to make an upfront deposit against the purchase price for the gold and silver of US$23 million in two $11.5 million tranches. The first tranche of US$11.5 million (the “Initial Upfront Deposit”) was advanced on September 15, 2017. The advance of the second tranche of US$11.5 million (the “Second Upfront Deposit”) was subject to certain conditions including Steppe Mongolia having expended at least US$15 million on the ATO Project. The Second Upfront Deposit can be drawn down in tranches representing 3-month forecasted expenditures for development of the ATO Project. On completion of the development of the ATO Project, any amount of the Second Upfront Deposit that has not been drawn down will be advanced as a lump sum. The Company is also pleased to advise that it has repaid the US$5 million promissory note issued to Centerra Gold Mongolia LLC, a subsidiary of Centerra Gold Inc., as part of the purchase price for the acquisition by the Company of the ATO Project. The remaining promissory note of US$5 million held by Centerra and representing the balance of the purchase price for the ATO Project is due on September 30, 2019. CAPITALIZATION BOARD OF DIRECTORS TSX: STGO October 15, 2018

Upload: others

Post on 18-Aug-2020

8 views

Category:

Documents


0 download

Report

TRANSCRIPT

Page 1: Steppe - Company Update FINALv1...Steppe Gold is a precious metals exploration and development company with an aggressive growth strategy to build Steppe into the premier precious

1

TSXSymbol: STGO

TotalBasicSharesO/S(M): 42.9

MATTHEWWOODChairman,PresidentandCEO

BATAATUMUR-OCHIRDirectorandVicePresidentMongolia

ANEELWARAICHDirectorandExecutiveVicePresident

PATRICKMICHAELSDirector

DR.ZAMBABATJARGALDirector

LEWISMARKSDirector

SHELDONVANDERKOOYDirector

CONTACTINFORMATION

THECOMPANY’SHEADOFFICE:

Shangri-Laoffice,Suite1201,Olympicstreet19A,SukhbaatarDistrict1,Ulaanbaatar14241,MongoliaTel:+97677321914

TORONTOOFFICE:

90AdelaideStreet.W,Suite400Toronto,ONM5H3V9,CanadaTel:+16476970577

TRANSFERAGENT:

LoriWinchesterSeniorRelationshipManager,ClientManagement

Phone:+1416607-7898Cell:+1416671-4558Email:[email protected]

Toronto,ON – SteppeGold Limited (TSX: STGO) – STEPPEDRAWSONSECOND UPFRONT DEPOSIT UNDER TRIPLE FLAG BERMUDA GOLDSTREAMANDREPAYSCENTERRANOTEFORATOPROJECTACQUISITION

TORONTO--SteppeGoldLimited(TSX:STGO)(the“Company”or“SteppeGold”)is pleased to announce that it hasmet the conditions to advance theUS$11.5millionSecondUpfrontDeposit availableunder its gold streamwithTriple FlagMining Finance Bermuda Ltd. (“Triple Flag Bermuda”) and Triple Flag hasacceptedanadvancerequestforUS$8.1milliontocoverforecastedexpendituresfordevelopmentoftheATOProjecttotheendoftheyear.Theadvancewillbemadeonamonthlybasis,withtheCompanyhavingalreadyreceivedanadvanceofUS$3.8milliontocoverOctoberexpendituresattheATOproject.ThebalanceoftheUS$8.1millionadvancewillbepaid intwotranchesofUS$2.6milliononOctober26,2018andUS$1.7milliononNovember26,2018.

TheCompanyand itssubsidiariesSteppeGoldLLCandSteppe InvestmentsLtd.(“SteppeBVI”)enteredintoametalspurchaseandsaleagreementdatedAugust11,2017(the“StreamAgreement”)withTripleFlagBermudapursuanttowhichSteppeBVIagreedtoselltoTripleFlagBermudaaportionofthegoldandsilverproduced from the ATO Project. Under the terms of the Stream Agreement,SteppeBVIisobligatedtoselltoTripleFlagBermuda25%ofthegoldand50%ofthesilverproducedfromtheATOProjectuntilsuchtimeasSteppeBVIhassoldanaggregateof46,000ouncesofgoldand375,000ouncesofsilver,respectively(the“DeliveryMilestones”).

AsconsiderationforthegrantofthestreambySteppeBVI,TripleFlagBermudaagreed tomakeanupfrontdepositagainst thepurchaseprice for thegoldandsilverofUS$23millionintwo$11.5milliontranches.ThefirsttrancheofUS$11.5million(the“InitialUpfrontDeposit”)wasadvancedonSeptember15,2017.Theadvance of the second tranche of US$11.5 million (the “Second UpfrontDeposit”) was subject to certain conditions including Steppe Mongolia havingexpended at least US$15 million on the ATO Project. The Second UpfrontDeposit can be drawn down in tranches representing 3-month forecastedexpenditures for development of the ATO Project. On completion of thedevelopmentoftheATOProject,anyamountoftheSecondUpfrontDepositthathasnotbeendrawndownwillbeadvancedasalumpsum.

The Company is also pleased to advise that it has repaid the US$5 millionpromissorynoteissuedtoCenterraGoldMongoliaLLC,asubsidiaryofCenterraGoldInc.,aspartofthepurchasepricefortheacquisitionbytheCompanyoftheATOProject. The remainingpromissory noteofUS$5millionheldbyCenterraandrepresentingthebalanceofthepurchasepricefortheATOProjectisdueonSeptember30,2019.

CAPITALIZATION

BOARDOFDIRECTORS

TSX:STGO

October15,2018

Page 2: Steppe - Company Update FINALv1...Steppe Gold is a precious metals exploration and development company with an aggressive growth strategy to build Steppe into the premier precious

TSX:STGO

October14,2018

2

ABOUTTRIPLEFLAG

TripleFlagMiningFinanceBermudaLtd.andTripleFlagMiningFinanceLtd.togetherconstituteTripleFlag.TripleFlagprimarilytargetsstreamingandroyalty investmentsintheminingsectorwithbackingbyElliottManagementCorporation,anexperiencedglobalinvestmentfirmwithmorethan$30billionofassetsundermanagement. Triple Flag's investment focus is primarily on preciousmetals with amission to become aleadingsought-after long-termfundingpartnertominingcompaniesthroughoutthecommoditycycle.Formoreinformation,visithttp://www.tripleflagmining.com.

ABOUTSTEPPEGOLDSteppeGoldisapreciousmetalsexplorationanddevelopmentcompanywithanaggressivegrowthstrategyto build Steppe into the premier preciousmetals company inMongolia. The Company owns 100% of theadvanced staged Altan Tsaagan Ovoo Gold Project where resource expansion drilling and a heap leachdevelopmentiscurrentlyunderway.TheCompanyalsoowns80%oftheexcitingUudamKhundiiGoldProjectwhereanactiveexplorationprogramisunderwayandmakingnewdiscoveries.Mongoliaisopenforbusiness,prominingdevelopmentandoneofthe lastgreatfrontierswheregiantmineraldepositscanbefoundanddeveloped.


Case History Library of Shrub Steppe and Grassland ... · PDF fileCase History Library of Shrub Steppe and Grassland Restoration Projects in the ... to the Shrub Steppe and Grassland

One Steppe Ahead - Information Pack

Ozono uceets finalV1 - docs.bvsalud.org

TNQIT graduation Finalv1

Vernadsky-Poetry of Steppe People

ARABS & STEPPE - Cultural Transfer - Palymraeans

Fast Movers Flyer Redesign-Finalv1 · Fast Movers Flyer Redesign-Finalv1 Created Date: 6/9/2020 4:31:29 PM

Seelenfriede & Nervenkitzel in der Steppe

Manual Estudiante Finalv1 Pag 1 8

Presentation Finalv1

Steppe Bulletin №39 Autumn 2013

The Sagebrush Steppe Treatment Evaluation Project ... Sagebrush Steppe Treatment Evaluation Project ... The Sagebrush Steppe Treatment Evaluation Project ... of STMs encourages ecologists

GRIZZLY STEPPE Report - SANS Institute

I Am a Steppe

Silente steppe

THE KAZAKH STEPPE Conserving the world’s largest dry ... · 1 Temperate Grasslands Conservation Initiative: The Kazakh Steppe THE KAZAKH STEPPE Conserving the world’s largest

MONGOLIA PREMIER - Steppe Gold...Steppe Gold Limited -Mongolia’sPremier Precious Metals Company Corporate Presentation /November 2020 2020 March Commenced 60,000oz heap leach gold

Creativity observation lab assignment #2 finalv1

Steppe, prairie, savanna and pampa

Saga - Steppe Tribes

HALCYON STEPPE IRIS & DAYLILY FARM

THE EURASIAN STEPPE & CLIMATE CHANGE

shortgrass steppe - US Long Term Ecological Research Network · shortgrass steppe ecosystems. From 1982 until 1996, the Shortgrass Steppe LTER project was focused entirely on the

Got Choices Finalv1

Gati Investors Presentation FinalV1

Silverlake Presentation Q2FY21 FINALv1

Steppe Biome

Platform approach-series-building a-roadmap-finalv1

Dalle steppe ai deserti

Career Wellness 2009 Finalv1

The Eastern Steppe Living Landscape

Shrub Steppe Presentation - Washington State UniversityShrub-steppe: Shrub-steppe is the largest natural grassland in North America. It extends from southeastern Washington and eastern

Synthesis: Building Resilience and Adaptive Capacity in ...€¦ · Mongolian Ecological Zones Shifts of sub-ecozones in desert steppe, dry steppe, and forest steppe regions.

Resumen Ejecutivo InnovaEmpresaForm_Envapress FINALv1

Annual Report 2010 - Steppe Cement