Steppe Gold Limited has raised $1.44 million in its initial funding led by Australian and Mongolian investors that collectively invested $0.95 million. Investors from Ontario, BC and UK contributed the remaining amount.
Peterson McVicar LLP acted as legal counsel to Steppe Gold.
Incorporated in October 2016, Toronto based Steppe Gold Limited is developing an advanced stage gold silver project with defined mineral resources in eastern Mongolia. The project provides an immediate development opportunity for a low cost oxide heap leach gold and silver operation.
Steppe Gold board of directors is comprised of Aneel Singh Waraich of Ontario, Brian J. McMaster of UK, Matthew G.W. Wood and Bataa Tumur-Ochir of both Mongolia.
Steppe Gold Limited is founded and managed by Garrison Capital, one of the most successful operators in Mongolia.
Steepe Gold is targeting a listing on TSX in Q2 2017.