Producer · Junior / Minor · Gold · Asia
Last updated 21 June 2026
Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.
Portfolio Aggregate · 1 project
Portfolio mode — asset rows are for context only; tab totals use the company aggregation.
Steppe Gold Consolidated Portfolio
Portfolio · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Consolidated Steppe Gold Ltd portfolio of three operating open-pit gold mines in Mongolia: Altan Tsagaan Ovoo (ATO) in Dornod province (eastern Mongolia), Boroo Gold Mine in Selenge province (northern Mongolia), and Ulaanbulag Gold Mine ~22 km from Boroo. ATO commenced production in April 2020 with Phase 2 Expansion underway. Steppe Gold sells production directly to the Mongolian government at spot price. Boroo Gold LLC is a 100% subsidiary; partial 80% ownership of Corundum (Bayankhongor New Mining LLC holds remaining 20%).
Portfolio Aggregate
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Operating · 3 projects
Altan Tsagaan Ovoo
Asset
Project information
As at 27 August 2022
Description
As at 27 August 2022
Epithermal gold and polymetallic complex comprising four pipe-like deposits (Pipes 1, 2, 4, and Mungu). Located in the Dornod province of Eastern Mongolia, approximately 660 km east of Ulaanbaatar. Property covers a 5,492 hectare mining license. Acquired from Centerra Gold Mongolia in 2017; Phase 1 oxide heap leach operations commenced in 2020. Phase 2 Expansion underway to construct a 2.2 Mtpa concentrator for underlying fresh rock ores, targeting commissioning in Q1 2026. Flagship Eastern Mongolia asset.
Mining metrics
Multiple effective dates · exclusive
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Reserves & resources — detail
Multiple effective dates
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Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
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Boroo Gold Mine
Asset
Project information
As at 1 January 2024
Description
As at 1 January 2024
Intrusion-related gold deposit hosted in the Boroo fault. Located in the Selenge province of North-Central Mongolia, approximately 110 km northwest of Ulaanbaatar. Property comprises mining and exploration licenses covering approximately 6,593 hectares. Acquired by Steppe Gold in August 2024 through the Boroo Gold Transaction; commercial production originally achieved in 2004. Processing utilizes a 5,000 tpd carbon-in-leach facility and a heap leach pad. Operations are planned to continue through the first half of 2030.
Mining metrics
As at 1 February 2024 · exclusive
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Reserves & resources — detail
As at 1 January 2024
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Ulaanbulag Gold Mine
Asset
Project information
As at 1 January 2024
Description
As at 1 January 2024
Open-pit gold project featuring flat-lying mineralization across multiple zones. Located approximately 130 km northwest of Ulaanbaatar and 22 km from the Boroo Gold Mine. Acquired alongside Boroo Gold in August 2024. Ore is mined and transported via haul route to the Boroo Gold Mine for processing in the CIL facility.
Mining metrics
As at 1 January 2024 · exclusive
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Reserves & resources — detail
As at 1 January 2024
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Assumptions
- The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.
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How to read this tab
- The tables below list unit codes most often used in the Precious Metals sector for this company. MetalPilot stores contained metal or product in the codes below; grade and tonnage use separate fields. In side-by-side comparison views (stock page Portfolio tab, watchlist By sector), heterogeneous source units are converted to each commodity's preferred display unit (for example Moz Au, kt Cu, MMbbl oil) before summing; the same canonical codes appear in project data.
What the Portfolio tab shows
- The Portfolio tab presents a project-level view of the company's reported assets, built from publicly disclosed information (technical reports, annual filings, MD&A, investor presentations, MRMR / R&R statements, NI 43-101 / NI 51-101 / SEC S-K 1300 / SEC S-K 1200 / JORC / SAMREC / PERC / PRMS / COGEH filings, and similar primary sources).
- Figures are grouped by project type (mining, oil & gas, royalty, stream, processing facility, development, portfolio aggregate) and are shown alongside the headline reserve base, headline production, headline grade / quality, cost benchmarks, estimated lifetime, commercial terms (for royalties / streams), operational capacity (for processing) and a single-figure rating where the underlying data supports one.
- Each data table on the Portfolio tab is followed by ONE Assumptions footnote describing the modelling choices for that table; KPI stat-card assumptions appear in the bottom block instead. All legal and section disclaimers are merged into a single disclaimer list at the bottom of the Portfolio tab.
Concepts in your sector — Precious metals
- Resources vs Reserves. Resources are geological estimates that could one day be mined; Reserves are the subset with a feasibility study and plausible positive economics. Measured → Indicated → Inferred describe increasing geological uncertainty; Proven → Probable are reserve labels from Measured/Indicated. Inferred resources are not convertible to reserves under most codes.
- Grade (g/t) is the headline number on gold/silver pages. High-grade is often above 5 g/t; >10 g/t is bonanza territory; below 1 g/t is bulk low-grade. Open-pit cut-offs are typically lower than underground.
- AISC (All-In Sustaining Cost) is direct cash costs + sustaining capex + royalties + corporate overhead + reclamation, per ounce produced. C1 strips sustaining capex and corporate overhead. Both are non-GAAP and defined differently across issuers.
- By-product credits. Polymetallic deposits credit by-product value against the main metal cost; negative AISC after credits does not mean the main metal is sold below cash cost.
Portfolio tab — table guide
- Portfolio KPIs — company-level headline numbers aggregated from the featured projects (project counts, attributable annual production by commodity, attributable resource base by commodity, last filing date, operator share). USD value lines multiply attributable volumes by the resolved snapshot price.
- Portfolio snapshot — one-screen summary of the portfolio: counts by type and status, country mix, reporting standards used, operator share, primary commodity, attributable annual production summary and attributable resource base summary.
- Mining — one row per mining project, with columns for project name, location, status, primary commodities, production (with rating), reserves & resources (with rating), grade (with rating), costs and estimated lifetime. Multi-commodity projects emit one summary row per commodity.
- Royalty — one row per royalty interest held by the company. Columns cover the underlying project, operator, commodity, commercial terms (rate, type, cap, area-of-interest), attributable production, attributable reserves and estimated lifetime.
- Stream — one row per metal stream held by the company. Each row shows the underlying project, the streamed commodity, the headline stream percentage, the ongoing per-ounce / per-tonne payment, and attributable production / reserves.
- Processing facilities — one row per midstream / processing facility (pipeline, fractionator, LNG train, storage cavern, refinery, smelter, mill, heap-leach pad, CPP, etc.). Columns include nameplate capacity, contracted capacity, feedstock commodities and operational footprint.
- Development — projects in development status or in a pre-production lifecycle phase. The production column is re-labelled 'Targeted production (rating)' to highlight that the figures are plans, not actuals.
- Portfolio Aggregate — a single company-level row used when the company itself publishes a portfolio rollup (e.g. company-wide 2P barrels across all properties).
- Reserves & resources — detail — a leaf-category pivot showing every reserve and resource category disclosed across the projects.
- NPV (grouped) — all NPV rows captured from the filings, grouped by commodity, resource category, development status and pricing case. Each NPV figure is shown with its discount rate, basis (before-tax / after-tax), currency and value scale.
Ownership / Working interest
- Ownership percentage means the company's working-interest share of the asset: its slice of the project before royalties and before government take. It is shown on a 0–100 scale.
- Mines, oil and gas fields, and processing facilities — this is how much of the asset belongs to the company under that working-interest idea. One hundred percent is fully owned; a lower number usually means partners share the rest.
- Royalties and streaming agreements — the percentage is often not the story; what matters economically is usually the royalty or stream rate, shown elsewhere alongside these figures.
- Oil and gas — read this as gross working interest only. Do not treat it as net production or net wells after royalties; when filings distinguish gross from net, that shows up in how the resource numbers themselves are labelled.
- Below 100% — the short summary for each project names other owners and their stakes when the source says who they are.
- NRI vs WI (O&G). Working interest (WI) is the obligation to pay a share of costs; net revenue interest (NRI) is the share of revenue after royalties and overriding-royalty interests. A 100% WI well rarely produces 100% NRI; typical onshore U.S. NRI is 75–87.5% of WI depending on the lease royalty.
- Operator vs non-operator. The operator runs day-to-day operations; non-operating partners pay their WI share of costs but do not run the asset. Some Portfolio rows show operator share where disclosed.
Unit codes, conversion cheat sheets, cost benchmarks (AISC, C1–C3), reporting standards (NI 43-101, JORC, SEC S-K 1300) and resource/reserve category definitions live in the full terminology & units reference.
Each table lists the numeric band for scores 1–5 (production and resource base; grade where applicable for mining commodities) using the same thresholds as project rating stat cards. Only commodities that appear on featured projects for this document are listed.
Gold
Silver
Copper uses kt Cu bands (Mlb Cu when lb-scale copper resources appear on featured projects). Lithium grade uses hard-rock % Li₂O bands unless brine-style extraction or brine units appear on featured projects.
Assumptions
- Presented values are denominated in currency of the country where the company is headquartered. Values like market capitalization might differ from the values visible in other parts of the page, where the currency is always USD.
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