Boroo is a semi-private mining group with operations in Peru and Mongolia, mainly focused on gold. They are not huge, but do have multi million ounces of gold reserves/resources and a couple of potential hundreds of thousands of gold production per annum once Peru is back running. Last year, they did what some think was a reverse takeover of Steppe Gold (a listed mongolian gold producer), they basically became majority shareholders in Steppe Gold and in exchanged sold one of their mongolian mines to Steppe Gold for Steppe Gold to become a larger gold producer in Mongolia. So Boroo now have its Mongolia Operations consolidated under Steppe Gold (listed), and its Peruvian operations held in the private mining company. They own about 60% of Steppe Gold, which has a USD market cap of ~$160m.
XAM Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held
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