Steppe Gold Ltd. · TSX:STGO
Steppe Gold — Investor Presentation (October 2023)
25 slides from Steppe Gold's investor presentation, Oct 20, 2023
Slide 1: Mongolia's Premier Precious Metals Company
TSX: STGO OTCQX: STPGF Mongolia’s Premier Precious Metals Company Corporate Presentation October 2023
Slide 2: Disclaimer
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Disclaimer TECHNICAL INFORMATION The technical and geoscientific content in this presentation has been compiled, reviewed and approved by Enkhtuvshin Khishigsuren, Vice President of Exploration of the Compan
Slide 3: Company Overview
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Company Overview Steppe Gold is Mongolia’s premier precious metals company. We commenced production in 2020 from the ATO Gold Mine, Phase 1 oxide zone, comprising 160k oz Au. The Company recently updated its
Slide 4: Company Milestones
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Company Milestones June May December March Acquired 80% of “UK” Project in CA $25M IPO Mined, crushed and stacked over Commenced heap leach gold and silver Bayankhongor on TSX 533,000 tonnes of ore at a grad
Slide 5: Management Team & Board
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Management Team & Board Bataa Tumur-ochir Byambatseren Tsogbadrakh Matthew Wood Aneel Waraich Patrick Michaels Jeremy South Chairman and CEO President Director, Advisor to the Board Executive Vice President
Slide 6: Mongolia Today
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Mongolia Today Mongolia’s economic growth is expected to accelerate to above six percent in 2023-2024 A proud mining jurisdiction, with the sector leading 90% of exports and the country’s largest employer La
Slide 7: Gold's Value Proposition
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Gold’s Value Proposition Throughout history, gold has been seen as a special and valuable commodity and seen as the longest standing currency Acts as a hedge against inflation and deflation alike, as well as
Slide 8: Asset Overview: Altan Tsagaan Ovoo (ATO) Gold Mine
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Asset Overview: Altan Tsagaan Ovoo (ATO) Gold Mine Highlights A multi-phase precious metals project, covering 5,492 hectares, located in Dornod, North East Mongolia Mining commenced in 2018 and production co
Slide 9: Altan Tsagaan Ovoo (ATO) Gold Mine
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Altan Tsagaan Ovoo (ATO) Gold Mine Fully Permitted and Commenced Gold Production in 2020 09
Slide 10: Mineral Reserve Estimate, Effective August 27, 2022
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Mineral Reserve Estimate, Effective August 27, 2022 Total gross revenue over the next 14 years, including the balance of the oxide phase, of $2.2 billion and operating cash flows after stream obligations, of
Slide 11: New High Grade Zinc Discoveries
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 New High Grade Zinc Discoveries Recent Drilling resulted in an exciting new discovery of multiple high grade zinc sulphide intercepts beneath the existing ATO Gold Deposits. Exceptional results and now exten
Slide 12: Key Financial Metrics
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Key Financial Metrics NPV Life of Mine Operating Cash After-Tax Phase 1 & 2 Flow after stream obligations $242M 14 years $781M LoM Grades Capital Total Gross Expenditure Phase2 Lead, 0.37% Revenues Zinc, 0.6
Slide 13: Steppe's 2022/23 Monthly Production Volume
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Steppe’s 2022/23 Monthly Production Volume Steppe Gold passes 100,000 ounces of gold production milestone at the ATO Gold Mine. Steady & Growing Production Profile $1,200 $810-$850/oz Expected AISC for next
Slide 14: Operations Year-In-Review
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Operations Year-In-Review Landmark power agreement was reached to provide grid power to the ATO Phase 2 Expansions, to drive significant energy savings. Will reduce expected cash costs in excess of $100/oz f
Slide 15: Operational Progress
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Operational Progress 15
Slide 16: Operational Progress
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Operational Progress 16
Slide 17: Uudam Khundii (UK) Project
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Uudam Khundii (UK) Project CREATING A NEW, MULTI-MILLION OUNCE EXPLORATION POTENTIAL, GOLD DISTRICT IN BAYANKHONGOR Partnership with state-owned Erdenes Alt Resource LLC announced to develop the highly prosp
Slide 18: Exploration Strategy
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Exploration Strategy Ongoing exploration programs at both assets Extensional and infill drilling is progressing at ATO Further work continues at the Mungu Discovery into 2023, to assess expansion of this exc
Slide 19: Steppe Gold Proudly Launches its Inaugural ESG Report
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Steppe Gold Proudly Launches its Inaugural ESG Report Prepared in Alignment with the Sustainability Accounting Standards Board (SASB) Metals & Mining Sustainability Accounting Framework Environmental: Social
Slide 20: 2023 and Beyond…
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 2023 and Beyond… With first drawdown on US $150M financing package in October 2023, Steppe is forging ahead with an accelerated construction plan for the Phase 2 Expansions; Maximizing gold production from t
Slide 21: Steppe Gold Acquires Anacortes Mining
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Steppe Gold Acquires Anacortes Mining Creating a Leading Diversified Precious Metals Producer Steppe has acquired Anacortes in an all-share friendly transaction: shareholders of Steppe and Anacortes will own
Slide 22: Tres Cruces – Robust Oxide Project
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Tres Cruces – Robust Oxide Project PEA Highlights – Oxide Cap Only Mining / Processing Open Pit Heap Leach Mine Life 7 years Total Gold Production 481,000 ounces Average Annual Gold Production 68,000 ounces
Slide 23: Attractive Asset Portfolio
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Attractive Asset Portfolio LOM Annual Au Eq. Production (k oz) Junior Producer 2023 Au Eq. Production (k oz) 171 266 253 174 103 147 155 134 68 110 92 (1) (1) Steppe (Phase 2) Anacortes Pro Forma Steppe Jagu
Slide 24: Re-Rating Potential
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Re-Rating Potential Consensus P / NAV EV / Au Eq. Resources (US$/oz) 1.0x $119 $88 0.7x Peer Average: 0.6x 0.6x 0.7x $77 0.6x Peer Average: $67 $72 0.6x $68 0.5x $53 $41 0.3x $17 $18 0.1x Pro Forma Aris Vict
Slide 25: Contact
Steppe Gold Limited - Positioned for Growth and Beyond Corporate Presentation – October 2023 Contact Bataa Tumur-Ochir Aneel Waraich Jeremy South Chairman and CEO Executive VP and Director Senior VP and CFO bataa@steppegold.com aneel@steppegold.com jeremy@steppegold.com The Company’s head office: Sh