Steppe Gold announces 40 million dollars drawdown for Phase 2 expansion at ATO Gold Mine
–News Direct–
Steppe Gold Chief Financial Officer Jeremy South joined Steve Darling from Proactive to announce a significant financing milestone for the Phase 2 Expansion at the ATO Gold Mine, which is 100% owned by the company. This milestone aligns with further progress on the turnkey engineering, procurement, and construction contract, as well as the second project finance drawdown of $40.4 million.
South explained to Proactive that Steppe Gold has successfully reached the next financing milestone by making its second payment of US$37 million towards the Phase 2 Expansion. This payment will cover the procurement of major long lead items, mobilization costs, early construction works, and foundational work. The purchased items include flotation cells, grinding mills, cluster cyclones, t...