Steppe Gold to acquire Boroo Gold for CAD68m.

Steppe Gold, a precious metals company, agreed to acquire Boroo Gold, a gold producer, for CAD68m. “We are very pleased to announce the agreement to acquire Boroo Gold. This transaction accelerates our path to a multi-asset Mongolia-focused mining group and, importantly, immediately provides strong cash flow to support our growth plans, further improved with the recent strong gold prices. In connection with the completion of this transaction we expect to finish 2024 with a run rate of around 90k oz in gold production, moving to over 150,k oz in 2026 on a pro forma basis. We have also decided to divest the Tres Cruces Project to further improve our liquidity and sharpen our focus on Mongolia,” Bataa Tumur-Ochir, Steppe Gold Chairman and CEO.