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Steppe Gold Announces 2025 Annual Financial Results
Ulaanbaatar, Mongolia--(Newsfile Corp. - March 31, 2026) - Steppe Gold Ltd. (TSX: STGO) (OTCQX: ...
About this update from Steppe Gold Ltd.
Steppe Gold Announces 2025 Annual Financial ResultsUlaanbaatar, Mongolia--(Newsfile Corp. - March 31, 2026) - Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is pleased to announce its financial results for the year ended December 31, 2025. The Company delivered strong operating performance, record revenues and a significant improvement in its financial position during the year. "We are pleased to report a year of solid operational and financial performance," said Tserenbadam Dugeree, Chief Executive Officer of Steppe Gold. "The Company made meaningful progress on restructuring initiatives, strengthened its financial position and advanced certain infrastructure activities related to the ATO Phase 2 expansion. Strong performance from the Boroo and Ulaanbulag gold mines supported overall results, while the ATO Phase 1 operation approached the end of its mine life. ATO Phase 2 remains at a development stage and is subject to a range of material risks and uncertainties, including with respect to permitting, financing, construction execution, operating costs, and timing. There can be no assurance that the project will be completed on the currently contemplated schedule or budget, or at all. The Company continues to evaluate development plans and funding options, with a focus on preserving financial flexibility and managing downside risk. We remain focused on disciplined capital allocation, prudent liquidity management, and maintaining operational stability across the business during this transition period." A full set of risk factors is included in the Company's annual information form dated March 31, 2026, filed on SEDAR+. HIGHLIGHTSFourth quarter and year ended December 31, 2025(All amounts are in US dollars, expressed in thousands, unless otherwise indicated, except per unit amounts.) Gold production was 29,401 ounces for the fourth quarter and 76,059 ounces for the full year Gold sales were 37,337 ounces for the fourth quarter and 75,927 ounces for the full year Revenue was $160,037 for the fourth quarter and $254,130 for the full year Adjusted EBITDA of $122,369 for the fourth quarter and $173,918 for the full year Net income (loss) was $10,218 for the fourth quarter and $32,760 for the full year Site all-in sustaining costs (AISC) were $1,044 per ounce for the fourth quarter and $1,215 per ounce for the full year W...