Steppe Gold Ltd
CMM Verified
MSE: TSX: STGO, OTCQX: STPGFPublic CompanyMiningOverview
- Legal Name
- Steppe Gold Ltd
- Company Type
- Public Company
- Listing
- MSE: TSX: STGO, OTCQX: STPGF
- Industry
- Mining
- Founded
- 2016
- Market Cap
- MNT 827B
- CEO
- Tserenbadam Dugeree
- Parent Group
- Boroo Pte Ltd. (Singapore)
- Website
- steppegold.com
- Coverage
- CMM Verified
About the Company
Steppe Gold Ltd. engages in operating, developing, exploring, and acquiring precious metal projects in Mongolia and Peru, with its flagship project being the wholly owned Altan Tsagaan Ovoo property covering roughly 5,492 hectares in Ulaanbaatar, Mongolia. The company also holds the Boroo and Ulaanbulag mine property, spanning about 6,594 hectares in Mongolia, and is exploring the Uudam Khundii gold project covering 14,400 hectares in Bayankhongor province. Headquartered in Ulaanbaatar with a Toronto office, it's run by CEO Bataa Tumur-Ochir, and reported 2025 revenue of $254.1M (up 43% YoY) with net income of $32.7M
Financial Performance
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 132.1M | 178.1M | 254.1M |
| Gross Profit | 70.8M | 96.1M | 138.2M |
| Operating Expenses (SG&A) | 2.8M | 9.3M | 22.5M |
| Net Profit | 56.3M | 59.8M | 32.8M |
All figures in USD. K = thousand, M = million, B = billion, T = trillion.Source: MSE disclosures
Ownership & Structure
Part of
Shareholders
Boroo Pte Ltd. (Singapore) (controlling)55.9%
Eric Sprott (via 2176423 Ontario Ltd.)10%
Public/other institutional34.1%
Subsidiaries & Projects
3- Steppe Gold LLC - ATO gold/silver project, Dornod provinceSubsidiary
- Boroo Gold LLC - Boroo gold mine, 60,000+ oz/yearSubsidiary
- Corundum Geo LLC - JV with Bayankhongor New Mining LLC (20%)Subsidiary
Executive Team
TD
CEO
Tserenbadam Dugeree
Chief Executive Officer (CEO)
Board of Directors
Board Chair
DE
Dulguun Erdenebaatar
Chairman of the Board (appointed Dec 17, 2025)
Sustainability
Sustainability Outcomes
Renewable energyEnergy efficiencyPollution prevention and mitigationSustainable water and waste useSustainable agriculture, land use, forestry, and eco tourism
UN SDGs
SDG 3SDG 5SDG 6SDG 10SDG 11SDG 12SDG 13SDG 15SDG 16SDG 17
ESG PolicyNO
Sustainability DisclosureYES
Transition / Mitigation StrategyNO
Impact TrackedYES
Impact VerifiedNO
Certifications
ISO 14001:2015 (Environmental Management System ATO & Boroo Gold)ISO 50001 (Energy Management — Boroo Gold)