On January 31, 2017, Centerra Gold's Mongolian subsidiary, CGM entered into definitive agreements to sell the ATO project, located in Eastern Mongolia, to Steppe Gold LLC and Steppe Gold Limited for gross proceed of $19,800,000. CGM has received $800,000 upon signing of the definitive agreements and is to receive $9,000,000 at closing, scheduled for the second quarter of 2017, followed by two additional $5 million cash payments at the first anniversary and second anniversary date of the closing of the transaction. The closing of the transaction is conditional upon Steppe Gold Limited executing their financing plans which the Company understands is scheduled to be completed in mid-2017.
5 March Steppe Gold Limited’s CEO Mr. MATTHEW WOOD: A successful track record in Mongolia and introduction of an advanced stage, near-production gold and silver project
Executive Chairman of Steppe Gold Matthew Wood, a company planning to launch its IPO on the Toronto Stock Exchange, will be giving a presentation on the “Successful track record in Mongolia and introduction of an advanced stage, near-production gold and silver project.” Steppe Gold is currently undertaking exploration activities at the Altan Tsagaan Ovoo Project.
Looks like Matthew Wood is trying to scrap up some money for another project.
WOF Price at posting:
3.6¢ Sentiment: Hold Disclosure: Held
