05:20 PM EDT, 04/01/2024 (MT Newswires) -- Steppe Gold Ltd. ( STPGF ) announced Monday its financial results for the year and fourth quarter from its Mongolia operations.

Revenue for the three months and year ending Dec. 31, 2023 amounted to US$14,677 and US$54,239 on sales of 7,242 and 27,050 gold ounces and 17,673 and 71,367 silver ounces, respectively. Prior-period results were not available.

Average realized prices for the three months and year ended Dec. 31, 2023 were US$1,977 and US$1,948 per gold ounce and US$20 and US$21 per silver ounce, respectively.

With the landmark financing package secured and the first tranche of US$50,000 fully drawn down, the company's main operational focus is execution of development of the Phase 2 Expansion with its EPC partners at Hexagon Build.

The company's shares closed down C$0.07 to C$0.67 on the Toronto Stock Exchange.