Steppe Gold enters into definitive deal to acquire Boroo Gold [Video]

Steppe Gold Chief Financial Officer Jeremy South joined Steve Darling from Proactive to unveil a significant development in the company’s growth trajectory. Steppe Gold has initiated a transformative share exchange agreement aimed at acquiring all of the issued and outstanding common shares of Boroo Gold, a strategic move poised to establish Steppe Gold as Mongolia’s premier gold producer. In tandem with this acquisition, Steppe Gold has also finalized separate definitive share purchase agreements, paving the way for the sale of the Tres Cruces Oxide Project to Boroo Singapore for approximately 12 million Canadian dollars, to be disbursed over the course of the next 18 months.

South emphasized that this strategic maneuver not only accelerates Steppe Gold’s journey towards becoming a multi-asset mining group focused on Mongolia but also fortifies its financial position with robust cash flow, buoyed by the recent upsurge in gold prices. With this transaction nearing completion, Steppe …